Blockchain Is Fastes Growing Segment Fueling The Growth Of The Global Contactless Payments Market
Contactless Payments Market The global Contactless Payments Market is estimated to be valued at US$ 15782.66 Mn in 2023 and is expected to exhibit a CAGR of 13 % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: Contactless payments involve the use of payment cards, key fobs, smartwatches, smartphones, or other devices, to make secure payments without physically swiping or inserting a card. The technology relies on radio-frequency identification (RFID) and near field communication (NFC) to transmit payment details from a payment device to a point-of-sale terminal. The technology enables quick and secure transactions at retail stores and offers advantages like speed, convenience and hygiene over traditional card payments. Market key trends: Blockchain technology is emerging as an important trend in the contactless payments market. Blockchain enables contactless payments t...