Abstract
Introduction
Contactless technology allows the cards industry to capture a greater share of
the low value payment market. This report has been produced to act as a guide
to this fast-growing market. With a potential global market value of nearly $1
trillion in payments, this is not an area that cards issuers, acquirers or
schemes can afford to ignore.
Scope of this research
- This report builds on Datamonitor' s previous coverage, providing detailed
analysis and overview of recent global developments in contactless payments
- In-depth coverage of the successful launch in the US provides a blueprint
for successful contactless rollouts in other markets
- The views of Datamonitor' s Cards & Payments Team on the likely future
developments in contactless payments in the Americas, Asia-Pacific, and Europe
- Contactless Payments Market Opportunity Model sizes the potential market
for contactless in 42 countries and 7 retail sectors
Research and analysis highlights
The rollout of contactless payments has progressed reasonably quickly since
the emergence of these products in 2005. Datamonitor estimates that there will
be 80 million contactless devices globally at the end of 2008.
The US has the greatest potential in terms of contactless payments, with low
value cash transactions of $297 billion per year at present. The global
contactless opportunity is $963 billion per year.
One area of great potential growth is urban transport. Major trials of open
loop ticketing and payment systems are being trialled in US, Asia and Europe.
Key reasons to purchase this research
- Learn which markets and retail sectors offer the greatest opportunities
for contactless payments.
- Understand how contactless payments can be applied effectively in the real
world.
- Find out about successful launches of contactless cards so that you can
understand what makes for a successful product.
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