The North America Proximity Payment Market would witness market growth of 10.8% CAGR during the forecast period (2021-2027).
Proximity payment offers a host of benefits such as Real-time transaction processing, decreased transaction time, the flexibility of payment devices, and higher convenience. This factor acts as a major catalyst for the growth & demand of proximity payment in the market. Additionally, customers, as well as retailers, can carry out proximity payment by using their smartphones due to the increased adoption rate of proximity payment among merchants, rise in faster connectivity, and increasing utilization of smartphones.
North America has always remained at the leading position in adopting advanced technologies. In addition, the region is expected to witness lucrative growth opportunities due to the presence of some of the leading market players in the region. The increase in the disposable income of consumers is expected to encourage adopting digital payment methods. In addition, the demand for digital payments has been fueled by higher convenience, supportive government initiatives, and changing consumers’ preferences.
Moreover, the region comprises developed countries like the US and Canada that are highly favorable for the growth & demand of proximity payments in the regional market. One of the major catalysts for the growth of the regional market is the surge in the installation of smart parking meters and technology advancements in these meters. For instance, in December 2017, the San Francisco Municipal Transportation Agency initiated a demand-responsive pricing program on 28,000 smart parking meters. Additionally, the increase in the number of unmanned stores in the US is boosting the demand for digital payment solutions like proximity payments. These supportive initiatives are anticipated to propel the growth of the regional proximity payment market during the forecasting period. Moreover, the massive penetration of smartphones and availability of high-speed internet are some of the factors that would fuel the growth of the regional proximity payment market.
The growth of the proximity payment market would be hampered by the rising data breaches and problems in the replacement process of the point-of-sale (POS) terminal. However, emerging countries provide growth opportunities for the players operating in the proximity payment market in order to expand their capabilities due to the aspects like faster urbanization, increasing middle-class population, increasing literacy level, and growing tech-savvy youth generation. In addition, the market of proximity payment is expected to boost due to an increasing number of developments and initiatives toward digitalized payments.
The US market dominated the North America Proximity Payment Services Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $1,772.9 million by 2027. The Canada market is experiencing a CAGR of 15.8% during (2021 - 2027). Additionally, The Mexico market would witness a CAGR of 14.9% during (2021 - 2027).
Based on Offering, the market is segmented into Solution and Services. Based on Application, the market is segmented into Grocery Stores, Drug Stores, Bars & Restaurants, Entertainment Centers, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Proximity Payment Market is Estimated to reach $26.4 Billion by 2027, at a CAGR of 11.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Fidelity Information Services (FIS), Inc., PayPal Holdings, Inc., Visa, Inc., Mastercard, Inc., Apple, Inc., Square, Inc., Google, LLC, Ingenico, ACI Worldwide, Inc. and IDEMIA SAS.
Scope of the Study
Market Segments Covered in the Report:
By Offering
By Application
- Grocery Stores
- Drug Stores
- Bars & Restaurants
- Entertainment Centers
- Others
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Fidelity Information Services (FIS), Inc.
- PayPal Holdings, Inc.
- Visa, Inc.
- Mastercard, Inc.
- Apple, Inc.
- Square, Inc.
- Google, LLC
- Ingenico
- ACI Worldwide, Inc.
- IDEMIA SAS
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.1 Objectives
1.2 Market Scope
1.3 Segmentation
1.3.1 North America Proximity Payment Market, by Offering
1.3.2 North America Proximity Payment Market, by Application
1.3.3 North America Proximity Payment Market, by Country
1.4 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2017-2021)
3.3.2 Key Strategic Move: (Product Launches and Product Expansions: 2017, Jun – 2021, Jun) Leading Players
Chapter 4. North America Proximity Payment Market by Offering
4.1 North America Proximity Payment Solution Market by Country
4.2 North America Proximity Payment Services Market by Country
Chapter 5. North America Proximity Payment Market by Application
5.1 North America Grocery Stores Proximity Payment Market by Country
5.2 North America Drug Stores Proximity Payment Market by Country
5.3 North America Bars & Restaurants Proximity Payment Market by Country
5.4 North America Entertainment Centers Proximity Payment Market by Country
5.5 North America Other Application Proximity Payment Market by Country
Chapter 6. North America Proximity Payment Market by Country
6.1 US Proximity Payment Market
6.1.1 US Proximity Payment Market by Offering
6.1.2 US Proximity Payment Market by Application
6.2 Canada Proximity Payment Market
6.2.1 Canada Proximity Payment Market by Offering
6.2.2 Canada Proximity Payment Market by Application
6.3 Mexico Proximity Payment Market
6.3.1 Mexico Proximity Payment Market by Offering
6.3.2 Mexico Proximity Payment Market by Application
6.4 Rest of North America Proximity Payment Market
6.4.1 Rest of North America Proximity Payment Market by Offering
6.4.2 Rest of North America Proximity Payment Market by Application
Chapter 7. Company Profiles
7.1 Fidelity Information Services (FIS), Inc.
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Segmental and Regional Analysis
7.1.4 Recent strategies and developments:
7.1.4.1 Partnerships, Collaborations, and Agreements:
7.1.4.2 Acquisition and Mergers:
7.1.5 SWOT Analysis
7.2 PayPal Holdings, Inc. (eBay)
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Regional Analysis
7.2.4 Research & Development Expense
7.2.5 Recent strategies and developments:
7.2.5.1 Partnerships, Collaborations, and Agreements:
7.2.5.2 Acquisition and Mergers:
7.2.5.3 Product Launches and Product Expansions:
7.3 Visa, Inc.
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Recent strategies and developments:
7.3.3.1 Partnerships, Collaborations, and Agreements:
7.4 Mastercard, Inc.
7.4.1 Company Overview
7.4.2 Financial Analysis
7.4.3 Regional Analysis
7.4.4 Recent strategies and developments:
7.4.4.1 Partnerships, Collaborations, and Agreements:
7.4.4.2 Acquisition and Mergers:
7.4.4.3 Geographical Expansions:
7.5 Apple, Inc.
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Product and Regional Analysis
7.5.4 Research & Development Expense
7.5.5 Recent strategies and developments:
7.5.5.1 Product Launches and Product Expansions:
7.5.5.2 Acquisition and Mergers:
7.5.6 SWOT Analysis
7.6 Square, Inc.
7.6.1 Company Overview
7.6.2 Financial Analysis
7.6.3 Segment and Regional Analysis
7.6.4 Recent strategies and developments:
7.6.4.1 Partnerships, Collaborations, and Agreements:
7.6.4.2 Product Launches and Product Expansions:
7.6.4.3 Acquisition and Mergers:
7.6.4.4 Geographical Expansions:
7.7 Google, LLC
7.7.1 Company Overview
7.7.2 Financial Analysis
7.7.3 Segmental and Regional Analysis
7.7.4 Research & Development Expenses
7.7.5 Recent strategies and developments:
7.7.5.1 Acquisition and Mergers:
7.7.5.2 Geographical Expansions:
7.7.6 SWOT Analysis
7.8 Ingenico (Worldline)
7.8.1 Company Overview
7.8.2 Financial Analysis
7.8.3 Segmental and Regional Analysis
7.8.4 Recent strategies and developments:
7.8.4.1 Partnerships, Collaborations, and Agreements:
7.8.4.2 Product Launches and Product Expansions:
7.9 ACI Worldwide, Inc.
7.9.1 Company Overview
7.9.2 Financial Analysis
7.9.3 Regional & Segmental Analysis
7.9.4 Research & Development Expenses
7.9.5 Recent strategies and developments:
7.9.5.1 Partnerships, Collaborations, and Agreements:
7.9.5.2 Product Launches and Product Expansions:
7.9.6 SWOT analysis
7.10. IDEMIA SAS (Advent International, Inc.)
7.10.1 Company Overview
7.10.2 Recent strategies and developments:
7.10.2.1 Partnerships, Collaborations, and Agreements:
7.10.2.2 Acquisition and Mergers:
TABLE 1 North America Proximity Payment Market, 2017 - 2020, USD Million
TABLE 2 North America Proximity Payment Market, 2021 - 2027, USD Million
TABLE 3 Partnerships, Collaborations and Agreements– Proximity Payment Market
TABLE 4 Product Launches And Product Expansions– Proximity Payment Market
TABLE 5 Acquisition and Mergers– Proximity Payment Market
TABLE 6 North America Proximity Payment Market by Offering, 2017 - 2020, USD Million
TABLE 7 North America Proximity Payment Market by Offering, 2021 - 2027, USD Million
TABLE 8 North America Proximity Payment Solution Market by Country, 2017 - 2020, USD Million
TABLE 9 North America Proximity Payment Solution Market by Country, 2021 - 2027, USD Million
TABLE 10 North America Proximity Payment Services Market by Country, 2017 - 2020, USD Million
TABLE 11 North America Proximity Payment Services Market by Country, 2021 - 2027, USD Million
TABLE 12 North America Proximity Payment Market by Application, 2017 - 2020, USD Million
TABLE 13 North America Proximity Payment Market by Application, 2021 - 2027, USD Million
TABLE 14 North America Grocery Stores Proximity Payment Market by Country, 2017 - 2020, USD Million
TABLE 15 North America Grocery Stores Proximity Payment Market by Country, 2021 - 2027, USD Million
TABLE 16 North America Drug Stores Proximity Payment Market by Country, 2017 - 2020, USD Million
TABLE 17 North America Drug Stores Proximity Payment Market by Country, 2021 - 2027, USD Million
TABLE 18 North America Bars & Restaurants Proximity Payment Market by Country, 2017 - 2020, USD Million
TABLE 19 North America Bars & Restaurants Proximity Payment Market by Country, 2021 - 2027, USD Million
TABLE 20 North America Entertainment Centers Proximity Payment Market by Country, 2017 - 2020, USD Million
TABLE 21 North America Entertainment Centers Proximity Payment Market by Country, 2021 - 2027, USD Million
TABLE 22 North America Other Application Proximity Payment Market by Country, 2017 - 2020, USD Million
TABLE 23 North America Other Application Proximity Payment Market by Country, 2021 - 2027, USD Million
TABLE 24 North America Proximity Payment Market by Country, 2017 - 2020, USD Million
TABLE 25 North America Proximity Payment Market by Country, 2021 - 2027, USD Million
TABLE 26 US Proximity Payment Market, 2017 - 2020, USD Million
TABLE 27 US Proximity Payment Market, 2021 - 2027, USD Million
TABLE 28 US Proximity Payment Market by Offering, 2017 - 2020, USD Million
TABLE 29 US Proximity Payment Market by Offering, 2021 - 2027, USD Million
TABLE 30 US Proximity Payment Market by Application, 2017 - 2020, USD Million
TABLE 31 US Proximity Payment Market by Application, 2021 - 2027, USD Million
TABLE 32 Canada Proximity Payment Market, 2017 - 2020, USD Million
TABLE 33 Canada Proximity Payment Market, 2021 - 2027, USD Million
TABLE 34 Canada Proximity Payment Market by Offering, 2017 - 2020, USD Million
TABLE 35 Canada Proximity Payment Market by Offering, 2021 - 2027, USD Million
TABLE 36 Canada Proximity Payment Market by Application, 2017 - 2020, USD Million
TABLE 37 Canada Proximity Payment Market by Application, 2021 - 2027, USD Million
TABLE 38 Mexico Proximity Payment Market, 2017 - 2020, USD Million
TABLE 39 Mexico Proximity Payment Market, 2021 - 2027, USD Million
TABLE 40 Mexico Proximity Payment Market by Offering, 2017 - 2020, USD Million
TABLE 41 Mexico Proximity Payment Market by Offering, 2021 - 2027, USD Million
TABLE 42 Mexico Proximity Payment Market by Application, 2017 - 2020, USD Million
TABLE 43 Mexico Proximity Payment Market by Application, 2021 - 2027, USD Million
TABLE 44 Rest of North America Proximity Payment Market, 2017 - 2020, USD Million
TABLE 45 Rest of North America Proximity Payment Market, 2021 - 2027, USD Million
TABLE 46 Rest of North America Proximity Payment Market by Offering, 2017 - 2020, USD Million
TABLE 47 Rest of North America Proximity Payment Market by Offering, 2021 - 2027, USD Million
TABLE 48 Rest of North America Proximity Payment Market by Application, 2017 - 2020, USD Million
TABLE 49 Rest of North America Proximity Payment Market by Application, 2021 - 2027, USD Million
TABLE 50 Key Information – Fidelity Information Services (FIS), Inc.
TABLE 51 Key Information – PayPal Holdings, Inc.
TABLE 52 Key Information – Visa, Inc.
TABLE 53 key Information – Mastercard, Inc.
TABLE 54 Key Information – Apple, Inc.
TABLE 55 key information – Square, Inc.
TABLE 56 Key Information – Google, LLc
TABLE 57 Key Information – Ingenico
TABLE 58 Key information – ACI Worldwide, Inc.
TABLE 59 Key Information – IDEMIA SAS
List of Figures
FIG 1 Methodology for the research
FIG 2 KBV Cardinal Matrix
FIG 3 Key Leading Strategies: Percentage Distribution (2017-2021)
FIG 4 Key Strategic Move: (Product Launches and Product Expansions : 2017, Jun – 2021, Jun) Leading Players
FIG 5 Swot analysis: fidelity information services (fis), inc.
FIG 6 Recent strategies and developments: PayPal Holdings, Inc.
FIG 7 Recent strategies and developments: Mastercard, Inc.
FIG 8 SWOT Analysis: apple, Inc.
FIG 9 Recent strategies and developments: Square, Inc.
FIG 10 SWOT Analysis: Alphabet Inc. (Google Inc.)
FIG 11 Recent strategies and developments: ACI Worldwide, Inc.
FIG 12 swot analysis: aci worldwide, inc.
FIG 13 Recent strategies and developments: IDEMIA Group SAS