US and emerging markets power contactless payments boom
The installed base of contactless-enabled PoS devices will exceed 161 million by 2024, up from 78 million in 2019, according to Juniper Research. Contactless PoS devices will then be 94% of all PoS devices in use.
This growth will be largely driven by the deployment of contactless PoS terminals in the US and the increasing use of contactless payments to replace traditional cash in emerging markets.
Biometric payment terminals are, meanwhile, gaining traction in emerging markets. Global transaction values for biometric-equipped terminals will increase from $84 million in 2019 to $254 million in 2024, with India and China leading the way.