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The mobile payment industry has evolved over the past decade with advanced technologies and innovative developments by the key players for providing ease of payment using devices such as mobile handsets, point of sale terminals, NFC chips, smart cards, and others. Contactless payment systems comprise smart cards or other devices that integrate RFID or NFC technologies for making secure and contactless payment. Unlike mobile payments that are done through the internet, contactless payments are carried out in close physical proximity preventing unauthorized access during the transaction(s).

Near Field Communication (NFC) technology enables contactless payment by using standard-based wireless communication technology for exchanging information between a device and a point of sale terminal, thereby offering better and hassle-free customer experience. Moreover, NFC is used in mobile wallet, which is convenient for secured money transfers and ticketing transactions.

The global contactless payments market is driven by reduced transaction time, convenience in processing low-value payments, and increased revenue opportunities. However, high costs involved for the installation of EPOS terminals and lower rate of adoption hamper the contactless payments market growth.

Segment Review

The global contactless payments market is segmented based on device type, industry vertical, and region. Based on device type, it is divided into mobile handsets, point of sale terminals, NFC chips, smart cards, and others. On the basis of industry vertical, it is classified into BFSI, retail, IT & telecom, transportation, hospitality, government, and others. The market is analyzed based on region across North America, Europe, Asia-Pacific, and LAMEA including country level analysis for each region.

The key players operating in the contactless payments market include Ingenico Group, Verifone Systems, Inc., Inside Secure, on Track Innovations, Oberthur Technologies SA, Proxama, PLC., Wirecard AG, Giesecke & Devrient GmbH, Gemalto N.V., and Heartland Payment Systems, Inc.

Global Contactless Payments Market Segmentation

GLOBAL CONTACTLESS PAYMENTS MARKET SEGMENTATION

Top Impacting Factors

Reduced Transaction Time

Contactless payments are transactions performed quickly without compromising on security & privacy. These transactions are fast-paced as they do not require any pin or password to process the payments.

Increased Convenience

Contactless payments offer better collaboration in corporate environments to ensure rapid & secure transactions. In addition, these payments offer security of the card details, which are stored in mobile phones in the form of a secure element. This secure element could be in the form of subscriber identity module (SIM), secured chips, or secure digital card. Moreover, the hardware encryption can be only used in close proximity to the point of sale that makes contactless payments one of the most secure payments.

Lack of Awareness and Trust

Concerns regarding theft and security have created lack of trust among the public. The absence of pin facility during the transaction further proliferates this concern. Moreover, contactless cards are accepted at fewer locations as compared to magnetic stripe cards. This has hampered the contactless payments market growth to a prominent extent.

Key Benefits

  • This study includes the analytical depiction of the global contactless payments market along with current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed impact analyses.
  • The current market is quantitatively analyzed from 2016 to 2023 to highlight the financial competency of the industry.
  • Porters five forces analysis illustrates the potency of buyers & suppliers in the global contactless payments industry.

Contactless Payments Market Key Segments:

By Device Type

  • Mobile Handsets
  • Point of Sale Terminals
  • NFC Chips
  • Smart Cards
  • Others

By Industry Vertical

  • BFSI
  • Retail
  • IT & Telecom
  • Transportation
  • Hospitality
  • Government
  • Others

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa

Key Market Players

  • Ingenico Group
  • Verifone Systems, Inc.
  • Inside Secure
  • on Track Innovations
  • Oberthur Technologies SA
  • Proxama, PLC.
  • Wirecard AG
  • Giesecke & Devrient GmbH
  • Gemalto N.V.
  • Heartland Payment Systems, Inc.

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Chapter: 1 INTRODUCTION

1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS
1.3. KEY MARKET SEGMENTS
1.4. RESEARCH METHODOLOGY

1.4.1. Primary research
1.4.2. Secondary research
1.4.3. Analyst tools and models

Chapter: 2 EXECUTIVE SUMMARY

2.1. CXO PERSPECTIVES

Chapter: 3 MARKET OVERVIEW

3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS

3.2.1. Top winning strategies
3.2.2. Top investment pockets

3.3. PORTER’S FIVE FORCES ANALYSIS

3.3.1. High bargaining power of suppliers
3.3.2. High threat of new entrants
3.3.3. High threat of substitutes
3.3.4. High rivalry among market players
3.3.5. Moderate bargaining power of buyers

3.4. MARKET SHARE ANALYSIS (%), 2016
3.5. MARKET DYNAMICS

3.5.1. Drivers

3.5.1.1. Reduced time per transaction
3.5.1.2. Convenience in making low value payments
3.5.1.3. Increased revenue opportunities

3.5.2. Restraints

3.5.2.1. Lack of awareness
3.5.2.2. High set up costs involved

3.5.3. Opportunities

3.5.3.1. Increasing number of NFC-enabled devices
3.5.3.2. Rising adoption in emerging economies

3.5.4. Top impacting factors

Chapter: 4 CONTACTLESS PAYMENTS MARKET, BY DEVICE TYPE

4.1. OVERVIEW
4.2. MOBILE HANDSETS

4.2.1. Key market trends
4.2.2. Key growth factors and opportunities
4.2.3. Market size and forecast

4.3. POINT OF SALE TERMINALS

4.3.1. Key market trends
4.3.2. Key growth factors and opportunities
4.3.3. Market size and forecast

4.4. NFC CHIPS

4.4.1. Key market trends
4.4.2. Key growth factors and opportunities
4.4.3. Market size and forecast

4.5. SMART CARDS

4.5.1. Key market trends
4.5.2. Key growth factors and opportunities
4.5.3. Market size and forecast

4.6. OTHERS

4.6.1. Key market trends
4.6.2. Key growth factors and opportunities
4.6.3. Market size and forecast

Chapter: 5 CONTACTLESS PAYMENTS MARKET, BY INDUSTRY VERTICAL

5.1. OVERVIEW
5.2. BFSI

5.2.1. Key market trends
5.2.2. Key growth factors and opportunities
5.2.3. Market size and forecast

5.3. RETAIL

5.3.1. Key market trends
5.3.2. Key growth factors and opportunities
5.3.3. Market size and forecast

5.4. IT & TELECOM

5.4.1. Key market trends
5.4.2. Key growth factors and opportunities
5.4.3. Market size and forecast

5.5. TRANSPORTATION

5.5.1. Key market trends
5.5.2. Key growth factors and opportunities
5.5.3. Market size and forecast

5.6. HOSPITALITY

5.6.1. Key market trends
5.6.2. Key growth factors and opportunities
5.6.3. Market size and forecast

5.7. GOVERNMENT

5.7.1. Key market trends
5.7.2. Key growth factors and opportunities
5.7.3. Market size and forecast

5.8. OTHERS

5.8.1. Key market trends
5.8.2. Key growth factors and opportunities
5.8.3. Market size and forecast

Chapter: 6 CONTACTLESS PAYMENTS MARKET, BY REGION

6.1. NORTH AMERICA

6.1.1. Key market trends
6.1.2. Key growth factors and opportunities
6.1.3. Market size and forecast, by device type
6.1.4. Market size and forecast, by country
6.1.5. U.S.

6.1.5.1. Market size and forecast

6.1.6. Canada

6.1.6.1. Market size and forecast

6.1.7. Mexico

6.1.7.1. Market size and forecast

6.2. EUROPE

6.2.1. Key market trends
6.2.2. Key growth factors and opportunities
6.2.3. Market size and forecast
6.2.4. Germany

6.2.4.1. Market size and forecast

6.2.5. UK

6.2.5.1. Market size and forecast

6.2.6. France

6.2.6.1. Market size and forecast

6.2.7. Rest of Europe

6.2.7.1. Market size and forecast

6.3. ASIA-PACIFIC

6.3.1. Key market trends
6.3.2. Key growth factors and opportunities
6.3.3. Market size and forecast
6.3.4. Market size and forecast, by device type
6.3.5. Market size and forecast, by country
6.3.6. China

6.3.6.1. Market size and forecast

6.3.7. Japan

6.3.7.1. Market size and forecast

6.3.8. India

6.3.8.1. Market size and forecast

6.3.9. Rest of Asia-Pacific

6.3.9.1. Market size and forecast

6.4. LAMEA

6.4.1. Key market trends
6.4.2. Key growth factors and opportunities
6.4.3. Market size and forecast
6.4.4. Market size and forecast, by device type
6.4.5. Market size and forecast, by country
6.4.6. Latin America

6.4.6.1. Market size and forecast

6.4.7. Middle East

6.4.7.1. Market size and forecast

6.4.8. Africa

6.4.8.1. Market size and forecast

Chapter: 7 COMPANY PROFILES

7.1. INGENICO GROUP

7.1.1. Company overview

7.1.1.1. Company snapshot

7.1.2. Business performance
7.1.3. Strategic moves & developments

7.2. VERIFONE SYSTEMS, INC.

7.2.1. Company overview

7.2.1.1. Company snapshot

7.2.2. Business performance
7.2.3. Strategic moves & developments

7.3. INSIDE SECURE

7.3.1. Company overview

7.3.1.1. Company snapshot

7.3.2. Business performance
7.3.3. Strategic moves & developments

7.4. ON TRACK INNOVATIONS

7.4.1. Company overview

7.4.1.1. Company snapshot

7.4.2. Business performance
7.4.3. Strategic moves & developments

7.5. OBERTHUR TECHNOLOGIES SA

7.5.1. Company overview

7.5.1.1. Company snapshot

7.5.2. Business performance
7.5.3. Strategic moves & developments

7.6. PROXAMA, PLC.

7.6.1. Company overview

7.6.1.1. Company snapshot

7.6.2. Business performance
7.6.3. Strategic moves & developments

7.7. WIRECARD AG

7.7.1. Company overview

7.7.1.1. Company snapshot

7.7.2. Business performance
7.7.3. Strategic moves & developments

7.8. GIESECKE & DEVRIENT GMBH

7.8.1. Company overview

7.8.1.1. Company snapshot

7.8.2. Business performance
7.8.3. Strategic moves & developments

7.9. GEMALTO N.V.

7.9.1. Company overview

7.9.1.1. Company snapshot

7.9.2. Business performance
7.9.3. Strategic moves & developments

7.10. HEARTLAND PAYMENT SYSTEMS, INC.

7.10.1. Company overview

7.10.1.1. Company snapshot

7.10.2. Business performance
7.10.3. Strategic moves & developments

LIST OF TABLES

TABLE 1. GLOBAL CONTACTLESS PAYMENTS MARKET REVENUE, BY DEVICE TYPE, 2017-2023($MILLION)
TABLE 2. CONTACTLESS PAYMENTS MARKET REVENUE FOR MOBILE HANDSETS, BY REGION, 2017-2023($MILLION)
TABLE 3. CONTACTLESS PAYMENTS MARKET REVENUE FOR POINT OF SALE TERMINALS, BY REGION, 2017-2023 ($MILLION)
TABLE 4. CONTACTLESS PAYMENTS MARKET REVENUE FOR NFC CHIPS, BY REGION, 2017-2023 ($MILLION)
TABLE 5. CONTACTLESS PAYMENTS MARKET REVENUE FOR SMART CARDS, BY REGION, 2017-2023 ($MILLION)
TABLE 6. CONTACTLESS PAYMENTS MARKET REVENUE FOR OTHER DEVICES, BY REGION, 2017-2023 ($MILLION)
TABLE 7. GLOBAL CONTACTLESS PAYMENTS MARKET REVENUE, BY INDUSTRY VERTICAL, 2017-2023 ($MILLION)
TABLE 8. CONTACTLESS PAYMENTS MARKET REVENUE FOR BFSI, BY REGION, 2017-2023 ($MILLION)
TABLE 9. CONTACTLESS PAYMENTS MARKET REVENUE FOR RETAIL, BY REGION, 2017-2023 ($MILLION)
TABLE 10. CONTACTLESS PAYMENTS MARKET REVENUE FOR IT & TELECOM, BY REGION, 2017-2023 ($MILLION)
TABLE 11. CONTACTLESS PAYMENTS MARKET REVENUE FOR TRANSPORTATION, BY REGION, 2017-2023 ($MILLION)
TABLE 12. CONTACTLESS PAYMENTS MARKET REVENUE FOR HOSPITALITY, BY REGION, 2017-2023 ($MILLION)
TABLE 13. CONTACTLESS PAYMENTS MARKET REVENUE FOR GOVERNMENT, BY REGION, 2017-2023 ($MILLION)
TABLE 14. CONTACTLESS PAYMENTS MARKET REVENUE FOR OTHER LIGHTS, BY REGION, 2017-2023 ($MILLION)
TABLE 15. CONTACTLESS PAYMENTS MARKET REVENUE, BY REGION, 2017-2023 ($MILLION)
TABLE 16. NORTH AMERICAN CONTACTLESS PAYMENTS MARKET REVENUE, BY DEVICE TYPE, 2017-2023 ($MILLION)
TABLE 17. NORTH AMERICAN CONTACTLESS PAYMENTS MARKET REVENUE, BY COUNTRY, 2017-2023 ($MILLION)
TABLE 18. U.S. CONTACTLESS PAYMENTS MARKET REVENUE, 2017-2023 ($MILLION)
TABLE 19. CANADA CONTACTLESS PAYMENTS MARKET REVENUE , 2017-2023 ($MILLION)
TABLE 20. MEXICO CONTACTLESS PAYMENTS MARKET REVENUE, 2017-2023 ($MILLION)
TABLE 21. EUROPE CONTACTLESS PAYMENTS MARKET REVENUE, BY DEVICE TYPE, 2017-2023 ($MILLION)
TABLE 22. EUROPE CONTACTLESS PAYMENTS MARKET REVENUE, BY COUNTRY, 2017-2023 ($MILLION)
TABLE 23. GERMANY CONTACTLESS PAYMENTS MARKET REVENUE, 2017-2023 ($MILLION)
TABLE 24. UK CONTACTLESS PAYMENTS MARKET REVENUE, 2017-2023 ($MILLION)
TABLE 25. FRANCE CONTACTLESS PAYMENTS MARKET REVENUE, 2017-2023 ($MILLION)
TABLE 26. REST OF EUROPE CONTACTLESS PAYMENTS MARKET REVENUE, 2017-2023 ($MILLION)
TABLE 27. ASIA-PACIFIC CONTACTLESS PAYMENTS MARKET REVENUE, BY DEVICE TYPE, 2017-2023 ($MILLION)
TABLE 28. ASIA-PACIFIC CONTACTLESS PAYMENTS MARKET REVENUE, BY COUNTRY, 2017-2023 ($MILLION)
TABLE 29. CHINA CONTACTLESS PAYMENTS MARKET REVENUE, 2017-2023 ($MILLION)
TABLE 30. JAPAN CONTACTLESS PAYMENTS MARKET REVENUE , 2017-2023 ($MILLION)
TABLE 31. INDIA CONTACTLESS PAYMENTS MARKET REVENUE, 2017-2023 ($MILLION)
TABLE 32. REST OF ASIA-PACIFIC CONTACTLESS PAYMENTS MARKET REVENUE, 2017-2023 ($MILLION)
TABLE 33. LAMEA CONTACTLESS PAYMENTS MARKET REVENUE, BY DEVICE TYPE, 2017-2023 ($MILLION)
TABLE 34. LAMEA CONTACTLESS PAYMENTS MARKET REVENUE, BY COUNTRY, 2017-2023 ($MILLION)
TABLE 35. LATIN AMERICA CONTACTLESS PAYMENTS MARKET REVENUE, 2017-2023 ($MILLION)
TABLE 36. MIDDLE EAST CONTACTLESS PAYMENTS MARKET REVENUE, 2017-2023 ($MILLION)
TABLE 37. AFRICA CONTACTLESS PAYMENTS MARKET REVENUE , 2017-2023 ($MILLION)
TABLE 38. INGENICO GROUP - COMPANY SNAPSHOT
TABLE 39. VERIFONE SYSTEMS, INC. - COMPANY SNAPSHOT
TABLE 40. INSIDE SECURE - COMPANY SNAPSHOT
TABLE 41. ON TRACK INNOVATIONS - COMPANY SNAPSHOT
TABLE 42. OBERTHUR TECHNOLOGIES SA - COMPANY SNAPSHOT
TABLE 43. PROXAMA, PLC. - COMPANY SNAPSHOT
TABLE 44. WIRECARD AG - COMPANY SNAPSHOT
TABLE 45. GIESECKE & DEVRIENT GMBH- COMPANY SNAPSHOT
TABLE 46. GEMALTO N.V.- COMPANY SNAPSHOT
TABLE 47. HEARTLAND PAYMENT SYSTEMS, INC.- COMPANY SNAPSHOT

LIST OF FIGURES

FIGURE 1. MARKET SEGMENTATION
FIGURE 2. EXECUTIVE SUMMARY
FIGURE 3. TOP WINNING STRATEGIES IN CONTACTLESS PAYMENTS MARKET
FIGURE 4. TOP WINNING STRATEGY ANALYSIS
FIGURE 5. TOP INVESTMENT POCKETS
FIGURE 6. MARKET SHARE ANALYSIS OF CONTACTLESS PAYMENTS COMPANIES (%), 2016
FIGURE 7. GLOBAL CONTACTLESS PAYMENTS MARKET REVENUE, BY DEVICE TYPE, 2017-2023 ($MILLION)
FIGURE 8. GLOBAL CONTACTLESS PAYMENTS MARKET REVENUE, FOR MOBILE HANDSETS, 2017-2023 ($MILLION)
FIGURE 9. GLOBAL CONTACTLESS PAYMENTS MARKET REVENUE, FOR POINT OF SALE TERMINALS, 2017-2023 ($MILLION)
FIGURE 10. GLOBAL CONTACTLESS PAYMENTS MARKET REVENUE, FOR NFC CHIPS, 2017-2023 ($MILLION)
FIGURE 11. GLOBAL CONTACTLESS PAYMENTS MARKET REVENUE, FOR SMART CARDS, 2017-2023 ($MILLION)
FIGURE 12. GLOBAL CONTACTLESS PAYMENTS MARKET REVENUE, FOR OTHER DEVICES, 2017-2023 ($MILLION)
FIGURE 13. GLOBAL CONTACTLESS PAYMENTS MARKET REVENUE, BY INDUSTRY VERTICAL, 2017-2023 ($MILLION)
FIGURE 14. GLOBAL CONTACTLESS PAYMENTS MARKET REVENUE, FOR BFSI, 2017-2023 ($MILLION)
FIGURE 15. GLOBAL CONTACTLESS PAYMENTS MARKET REVENUE, FOR RETAIL, 2017-2023 ($MILLION)
FIGURE 16. GLOBAL CONTACTLESS PAYMENTS MARKET REVENUE, FOR IT & TELECOM, 2017-2023 ($MILLION)
FIGURE 17. GLOBAL CONTACTLESS PAYMENTS MARKET REVENUE, FOR TRANSPORTATION, 2017-2023 ($MILLION)
FIGURE 18. GLOBAL CONTACTLESS PAYMENTS MARKET REVENUE, FOR HOSPITALITY, 2017-2023 ($MILLION)
FIGURE 19. GLOBAL CONTACTLESS PAYMENTS MARKET REVENUE, FOR GOVERNMENT, 2017-2023 ($MILLION)
FIGURE 20. GLOBAL CONTACTLESS PAYMENTS MARKET REVENUE, FOR OTHER LIGHTS, 2017-2023 ($MILLION)
FIGURE 21. NORTH AMERICAN CONTACTLESS PAYMENTS MARKET REVENUE, BY COUNTRY, 2017-2023 ($MILLION)
FIGURE 22. EUROPE CONTACTLESS PAYMENTS MARKET REVENUE, BY COUNTRY, 2017-2023 ($MILLION)
FIGURE 23. ASIA-PACIFIC CONTACTLESS PAYMENTS MARKET REVENUE, BY COUNTRY, 2017-2023 ($MILLION)
FIGURE 24. LAMEA CONTACTLESS PAYMENTS MARKET REVENUE, BY COUNTRY, 2017-2023 ($MILLION)
FIGURE 25. INGENICO GROUP:NET REVENUE, 2012-2016 ($MILLION)
FIGURE 26. INGENICO GROUP: NET REVENUE, BY DIVISION, 2016 (%)
FIGURE 27. INGENICO GROUP: NET REVENUE, BY REGION, 2016 (%)
FIGURE 28. VERIFONE SYSTEMS, INC. : NET REVENUE, 2012-2016 ($MILLION)
FIGURE 29. VERIFONE SYSTEMS, INC.: NET REVENUE, BY DIVISION, 2016 (%)
FIGURE 30. VERIFONE SYSTEMS, INC.: NET REVENUE, BY REGION, 2016 (%)
FIGURE 31. INSIDE SECURE : NET REVENUE, 2012-2016 ($MILLION)
FIGURE 32. INSIDE SECURE: NET REVENUE, BY DIVISION, 2016 (%)
FIGURE 33. INSIDE SECURE: NET REVENUE, BY REGION, 2016 (%)
FIGURE 34. ON TRACK INNOVATIONS: NET REVENUE, 2012-2016 ($MILLION)
FIGURE 35. ON TRACK INNOVATIONS: NET REVENUE, BY DIVISION, 2016 (%)
FIGURE 36. ON TRACK INNOVATIONS: NET REVENUE, BY REGION, 2016 (%)
FIGURE 37. OBERTHUR TECHNOLOGIES SA : NET REVENUE, 2012-2016 ($MILLION)
FIGURE 38. OBERTHUR TECHNOLOGIES SA: NET REVENUE, BY DIVISION, 2016 (%)
FIGURE 39. OBERTHUR TECHNOLOGIES SA: NET REVENUE, BY REGION, 2016 (%)
FIGURE 40. PROXAMA, PLC.: NET REVENUE, 2012-2016 ($MILLION)
FIGURE 41. PROXAMA, PLC.: NET REVENUE, BY DIVISION, 2016 (%)
FIGURE 42. PROXAMA, PLC.: NET REVENUE, BY REGION, 2016 (%)
FIGURE 43. WIRECARD AG: NET REVENUE, 2012-2016 ($MILLION)
FIGURE 44. WIRECARD AG: NET REVENUE, BY DIVISION, 2016 (%)
FIGURE 45. WIRECARD AG: NET REVENUE, BY REGION, 2016 (%)
FIGURE 46. GIESECKE & DEVRIENT GMBH: NET REVENUE, 2012-2016 ($MILLION)
FIGURE 47. GIESECKE & DEVRIENT GMBH: NET REVENUE, BY DIVISION, 2016 (%)
FIGURE 48. GIESECKE & DEVRIENT GMBH: NET REVENUE, BY REGION, 2016 (%)
FIGURE 49. GEMALTO N.V.: NET REVENUE, 2012-2016 ($MILLION)
FIGURE 50. GEMALTO N.V.: NET REVENUE, BY DIVISION, 2016 (%)
FIGURE 51. GEMALTO N.V.: NET REVENUE, BY REGION, 2016 (%)
FIGURE 52. HEARTLAND PAYMENT SYSTEMS, INC.: NET REVENUE, 2012-2016 ($MILLION)
FIGURE 53. HEARTLAND PAYMENT SYSTEMS, INC.: NET REVENUE, BY DIVISION, 2016 (%)
FIGURE 54. HEARTLAND PAYMENT SYSTEMS, INC.: NET REVENUE, BY REGION, 2016 (%)

Contactless cards or devices consist a chip that contains the user account information and an antenna. Contactless payments are established through these devices in close proximity to the terminal that also helps in getting rid of hacking or unauthorized access of financial information. Increased need for cashless payments and penetration of smartphones in the developed and the developing countries boost the adoption of contactless payments. In the past few years, the adoption of contactless payments has increased due to improved living standards and rapid growth rate of the retail industry. Contactless payments involve NFC technology, which allows users to establish transactions through mobile phones for numerous purposes such as easy payment, ticketing, healthcare updates, and information sharing with the help of several apps.

The widespread demand for e-commerce, and mobile banking services has influenced the contactless payments market growth. However, the cost of initial installations is higher than the traditional technologies that limits the market growth.

Innovations in the global contactless payments market such as payment through a ring or through facial recognition have boosted the overall market growth. Europe accounted for the maximum share in the market in 2016, owing to technological advancements and increase in use of contactless smart cards. Furthermore, Asia-Pacific is anticipated to witness the highest growth rate during the forecast period due to the rise in a number of NFC-enabled smart phones in countries such as China, Japan, and India.

The key players profiled in the report include Ingenico Group, Verifone Systems, Inc., Inside Secure, on Track Innovations, Oberthur Technologies SA, Proxama, PLC., Wirecard AG, Giesecke & Devrient GmbH, Gemalto N.V., and Heartland Payment Systems, Inc. The market players have introduced innovative NFC-enabled devices and collaborated with other companies to increase their product offerings, increase their customer base, and capitalize on the growing demand for this technology.

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