Proximity Payment Market Size, Growth Statistics 2022 Industry Demand, Upcoming Investments and Forecast to 2030 – This Is Ardee – This Is Ardee

New York , United States – The global proximity payment market is forecast to grow at a compound annual growth rate (CAGR) of more than 11% during the forecast period from 2021-2030, and the market’s value anticipates to reach US$46.5 billion by 2030.
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Devices can communicate & conduct payments at a distance of 4 centimeters with proximity payment technology. With this form of payment, goods and services can be paid for using a mobile phone or other devices at a physical point-of-sale terminal. A mobile phone equipped with near field communication (NFC), in addition, initiates proximity payments. Additionally, NFC payment devices and readers must be close to each other to ensure that the NFC chips can exchange cryptographic data.
Factors Affecting
Impact Analysis of COVID-19
Globally, the COVID-19 pandemic has significantly affected the proximity payment industry, leading to a rise in usage, adoption of online & digitalized payment methods. In addition, banks and retailers are responding to fears regarding COVID-19 by raising their limits on proximity transactions in order to allow for higher-value payments without having to touch the terminal. As a result, proximity payment has become one of the primary growth factors for the global health crisis.
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Regional Overview
Asia Pacific anticipates the highest CAGR during the forecast period. China and India have the highest number of proximity mobile payment users, mainly because newly minted middle-class consumers are shunning credit cards in favor of more convenient mobile options. It, in turn, leads to growth in the Asia Pacific region.
Leading Companies
The leading prominent players in the global proximity payment market are:
Scope of the Report
The global proximity payment market segmentation focuses on Offering, Application, and Region.
Segmentation based on Offering
Segmentation based on Application
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Segmentation based on Region
What are the key findings of the report?
?This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
?The report offers the current state of the market and future prospects for various geographical regions.
?This report provides both qualitative and quantitative information about the competitive landscape of the market.
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