Contactless Payment Market Size Worth $6.25 Trillion By 2028 | Global and Regional Forecast | Grand View Research, Inc.


 

The global contactless payment market size is expected to reach USD 6.25 trillion by 2028, according to a new report by Grand View Research, Inc. It is anticipated to register a CAGR of 20.3% from 2021 to 2028. Various benefits, such as improved service delivery and reduction in transaction time offered by contactless payments, are expected to propel the market growth over the forecast period.

Customers can immediately complete transactions with the tap of a card. Increasing integration of contactless payment technologies in smartphones and mobile handsets is expected to fuel the market growth. Numerous customers across the globe are purchasing services or products with the use of devices, such as wearables, key fobs, smart cards, and smartphones, among others. This, as a result, is anticipated to drive market growth over the forecast period.

Request Free Sample Report: https://www.grandviewresearch.com/industry-analysis/contactless-payments-market

Contactless payment uses Near Field Communication (NFC) and Radio-frequency Identification (RFID) technologies to facilitate easy money transactions. Various benefits, such as real-time transaction processing and secured transactions, are driving the adoption of contactless payment solutions. An increase in the adoption of technology by wholesalers or merchants for small value transactions is further expected to propel the market growth.

The outbreak of the COVID-19 pandemic is expected to favorably impact the market. The COVID-19 outbreak is anticipated to change the payment behavior by users and firms as the World Health Organization (WHO) has been guiding customers to avoid cash handling and shift to contactless payments. This is expected to create growth opportunities for the market over the forecast period.

Increasing demand from merchants and consumers to reduce billing and transaction time will propel the market growth. The safety and security of money transactions is the primary concern of merchants and consumers. Various factors, such as rising government initiatives and ongoing advancements in networking infrastructure for the development of smart solutions, are expected to fuel the market growth. Several government administrations across the globe are encouraging their merchants to implement advanced payment solutions.

The outbreak of COVID-19 is expected to have a positive impact on the market. The COVID-19 pandemic has significantly impacted the market owing to the increase in adoption and use of digitalized and online payment methods across the globe. Furthermore, to curb the spread of the virus, numerous governments have imposed lockdown, which has resulted in lowered usage of cash. However, the rise of cyber-attack and lack of infrastructure in developing economies are expected to hamper the market growth.

Browse Full Report (Tables & Figures) @ https://www.grandviewresearch.com/industry-analysis/contactless-payments-market

Contact Us:

Grand View Research, Inc.
201 Spear Street 1100,
San Francisco, CA 94105
United States

Phone: 1-415-349-0058
Toll Free: 1-888-202-9519

Comments

Post a Comment

Popular posts from this blog

Global Data Center Market Poised for Strong Growth as AI, Green Infrastructure, and Mega Facilities Drive Industry Expansion

  San Francisco, March 12, 2026 — The global data center market size was estimated at USD 383.82 billion in 2025 and is anticipated to reach USD 902.19 billion by 2033 , growing at a CAGR of 11.3% from 2026 to 2033 , driven primarily by the exponential rise in data generation across industries. The global data center market is witnessing rapid expansion as the demand for cloud computing, artificial intelligence, and high-performance digital infrastructure continues to grow worldwide. Enterprises, governments, and technology companies are investing heavily in advanced data center facilities to support increasing volumes of data, real-time processing requirements, and expanding digital services. Data centers have become the backbone of the global digital economy, enabling businesses to manage critical applications, store vast datasets, and deliver services across multiple platforms. As digital transformation accelerates across industries, the data center market is expected to ...
Read more

Electric SUV Market Size To Reach USD 4.33 Trillion By 2030

Image
  Electric SUV Market Growth & Trends The global  electric SUV market  size is anticipated to reach USD 4.33 trillion by 2030 and is anticipated to expand at a CAGR of 31.9% from 2024 to 2030, according to a new report by Grand View Research, Inc. Increasing concerns about climate change and air quality are prompting consumers to opt for electric vehicles (EVs), including SUVs, which produce lower or zero emissions compared to traditional internal combustion engine vehicles. In addition, several benefits offered by e-SUVs, such as lower operating costs and energy savings, environmental benefits, and additional safety features, are making them more demandable in the global market. Governments across the globe are offering subsidies, tax credits, and other financial incentives to encourage the adoption of EVs, making them more attractive and affordable to consumers. For instance, in March 2024, the government of India approved a new Electric Vehicle (EV) Polic...
Read more

Artificial Intelligence in Retail Market Witnesses Accelerated Growth Amid Digital Transformation

  Rising Adoption of AI Reshapes the Global Retail Landscape April 14, 2026 The global Artificial Intelligence (AI) in Retail Market is experiencing remarkable momentum as retailers increasingly adopt intelligent technologies to enhance efficiency, improve customer engagement, and drive profitability. With rapid advancements in data analytics, machine learning, and automation, AI is no longer a futuristic concept but a present-day necessity for businesses striving to remain competitive in an evolving marketplace. Retailers across various segments—including e-commerce, supermarkets, fashion, and specialty stores—are leveraging AI to streamline operations and deliver highly personalized experiences. This transformation is fueled by the growing availability of consumer data and the need to respond swiftly to changing customer expectations. As a result, AI-powered retail solutions are becoming integral to strategic decision-making processes worldwide. Download a free sample co...
Read more