CONTACTLESS PAYMENTS MARKET ANALYSIS

Contactless Payments Market, By Device Type (Smart Cards, Smartphones, POS, NFC Chips, and Others), By Component (Solution and Services (Consulting, Integration and Deployment, and Support and Maintenance)), By Vertical (Retail, Hospitality, Energy & Utilities, Transportation & Logistics, BFSI, and Others (Government, Telecommunication, and Education)), and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

Published In : Jan 2023
Code : CMI4190
Pages :150
Formats :
Excel and PDF
Industry : Information and Communication Technology

Market Challenges And Opportunities

Market Restraint

Security concerns and threats while adopting Contactless payment methods.

The major factor restraining growth of the global contactless payments market is lack of trust due to security concern, data theft, and misuse of the contactless payment methods other than the authorized user. The contactless payment do not require to input PIN, which makes it less secure than the conventional methods. Such factors are expected to hinder growth of the contactless payments market over the forecast period.

Restraints & Challenges: