Contactless Payment Market
market can be segmented into infrared based , Bluetooth based , NFC based and RFID based . On the basis of region , contactless payment can be segmented into North America , Latin America , Western Europe , Eastern Europe , Asia Pacific excluding Japan , Japan , and Middle East and Africa .
Contactless Payment Market : Regional Outlook
As of 2016 , contactless payment system has high penetration in North America . The market in Europe is expected to grow considerably in the near future . Asia Pacific is contributing to the contactless payment market with growing purchasing power of people in the region , and also due to increasing acceptance of this mode of payment .
Contactless Payment Market : Competition Landscape
The key players in the contactless payment market include ACS ( Advanced Card Systems ) Ltd ., Chip & Pin Solutions Ltd ., Mifare Pty Limited , Ingenico Inc ., Gemalto N . V ., Verifone Systems Inc ., Heartland Payment Systems Inc ., On Track Innovations Ltd ., Castles Technology Co . Ltd ., and Bindo Labs Inc . These companies are investing in updated technologies to improve the existing system and a few of them are following the strategy of mergers and acquisition to upgrade their payment system . Increasing innovation in the contactless payment mode and initiatives to enhance awareness of contactless payment technology is anticipated to drive the contactless payment market .
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