Asia Pacific Contactless Payment Market By Device (Mobile Handsets, Point of Sale Terminals, NFC Chips, Smart Cards), Solution (Payment Terminal, Mobile Payment, Device Management, Transaction Management, Data Management, Security and Fraud Management, Hosted Point of Sale, Analytics), Service, Vertical
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The Asia Pacific Contactless Payment Market Size is anticipated to experience a growth of 30.0% CAGR during the forecast period.
The widespread popularity of internet shopping, QR & ID codes and mobile banking services has directly influenced the growth of contactless payment market. E-commerce as an industry has significantly influenced different verticals and directly influenced and augmented the demand for contactless payment. Another contributing factor that has led to the widespread adoption of contactless payment is the need for expedient payment mechanism with an aim of providing better customer services. Despite potentials prevailing, customers are still inclined to cash transactions as cyber threats are widely prevalent.
Adding the security threats, resistance to technological upgrade in disbursement mode is also been a major restraining factor. The report highlights the adoption of Contactless Payment. Based on the device type, the Contactless Payment market is segmented into Mobile Handsets, Point of Sale Terminals, NFC Chips, Smart Cards and Others.
Based on the Solutions type, the market is segmented across Payment Terminal Solution, Contactless Mobile Payment Solution, Device Management Solution, Transaction Management Solution, Data Management Solution, Security & Fraud Management Solution, Hosted Point of Sale Solution and Analytics Solution. Based on service Type, the market is segmented into Professional, Managed and Multi-Channel Payment & Value-Added Services. Professional Services are further sub divided into Consulting, Integration & Deployment Services and Support & Maintenance.
The verticals highlighted in this report include Government, Banking, Financial Services, & Insurance, Telecommunication & IT, Transportation & Logistics, Healthcare, Energy & Utilities, Retail, Hospitality and Others. Based on country, Asia-Pacific Contactless Payment market is segmented into China, Japan, India, South Korea, Singapore, Malaysia and Rest of Asia-Pacific. China remained the dominant Country in the Asia-Pacific Contactless Payment market in 2015.
Malaysia would witness highest CAGR during the forecast period (2016-2022). The report covers the analysis of key stakeholders of the Contactless Payment market. Key companies profiled in the report include Microsoft Corporation, Wirecard AG (until April 6, 2005: InfoGenie AG), Giesecke & Devrient GmbH, Ingenico Group S.A, Gemalto NV, Renesas Electronics Corporation, INSIDE Secure, Verifone Systems, Inc.