Contactless

• Contactless spending is expected to account for almost half of all transactions by the end of 2022 (47%), as it becomes the most popular payment method for the first time. CBRE
• Global contactless card transaction values will reach USD 2.5 trillion in 2021, from USD 1.7 trillion in 2020, with cards retaining the majority share of overall contactless transaction values at 79% in 2021. Research
• Disruption in payments continues at pace-turbocharged by the increase in e-commerce and heightened demand for contactless solutions brought on by the global pandemic. Global Finance Magazine
• Visa expects contactless payments to replace cash and become the preferred payment method for businesses and consumers, with consumers prioritising health and safety. Digital News Asia
• The impressive growth is set to continue in the following years, with the total value of contactless transactions doubling up and reaching over $1.6trn by 2024. InternetRetailing
• Contactless spending is expected to account for 47% of all UK transactions by the end of 2022, as it becomes the most popular payment method for the first time. Retail Technology Innovation Hub
• The use of contactless payments is set to make up 47% of all UK payments between 2021-2022, and will be the most common type of transaction. CBRE
• The number of open-loop EMV contactless cards used to make transit ticketing payments worldwide will increase from 24.8m currently to 136.9m by 2025. NFCW
• Many people switched to using contactless card payments, a trend that was already well underway before Covid, prompting experts to predict Britain may soon become a cashless society. CityAM
• The global contactless card transaction values will reach $2.5 trillion in 2021, from $1.7 trillion in 2020, with cards retaining the majority share of overall contactless transaction values at 79% in 2021. Crowdfund Insider
• The US will see transaction value growth of 136% between 2020 and 2021, with major US retailers rolling out contactless acceptance and consumers enjoying the added convenience offered by touch free card payments. Crowdfund Insider
• The challenges surrounding mobile app and in-vehicle payment solutions will mean that payments using contactless card or OEM Pay wallets will outpace their growth between 2020 and 2025, registering a 26% CAGR. Kaleido Intelligence
• According to Oliver Wyman and 'COVID-19 AND European Retail Payments' they expect contactless transactions to account for 27% of POS transactions (in value) by the end of 2021. payment-in-wearables
• We see that more than 50% of North American back-to-school shoppers say they will check for in-store inventory online before going into a store and 48% will shop at stores that offer curbside pickup or contactless shipping. Think With Google
• The high penetration of smartphones and wearables will drive a surge in the contactless payments market in the coming years. IndustryWired
• Global contactless card transaction values will reach $2.5 trillion (€2.12 trillion) in 2021, from $1.7 trillion (€1.44 trillion) in 2020, with cards retaining the majority share of overall contactless transaction values at 79% in 2021. IoT global network
• 65% of U.S. consumers would prefer to use contactless payments post-vaccine as much as-if not more than - they do currently, and another 47% will not shop at a store that does not offer a contactless way to pay. Independent Banker
• Card payments will still account for most contactless transactions - 79% - in 2021 according to Juniper. FStech
• Some 85% of consumers expect digital options when they shop in person, including contactless credit cards, mobile payment apps and mobile wallets. Payments Dive
• Starting with Monterey-Salinas Transit, Cal-ITP and partners like Visa will soon demonstrate how a transit provider that has traditionally used cash and agency specific fare cards can accept contactless bank card payments like any other merchant. NFCW
• Consumers in Poland will soon be able to use their Android NFC device to make tokenized contactless payments at the point of sale (POS) directly from their bank account via their mobile banking app without needing a debit or credit card. NFCW

Last updated: 19 September 2021