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Contactless Payments 2008
Datamonitor, Dec 2008, Pages: 45
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
- This report builds on The 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 The 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
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.
Reasons to Purchase
- 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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