The total value of contactless transactions made using payment services provided by smartphone and other original equipment manufacturers (OEMs) will reach more than US$1tn in 2022, a rise of 377% on 2019, Kaleido Intelligence predicts... More
Forecast
Forecast: OEM Pays to drive more than 180% growth in global tokenization revenue by 2025
Total global revenue from tokenization provisioning and management for mobile payments will exceed US$53bn in 2025, an increase of more than 180% from US$18bn in 2020, according to a forecast by Juniper Research... More
Mobile wallet transaction volumes overtake cash payments in stores
Contactless in-store payments made with a mobile wallet worldwide exceeded in-store cash payments for the first time during 2020, new research reveals... More
UBS forecasts widespread adoption of biometric payment cards
Biometric payment cards containing a built-in fingerprint sensor could generate more than US$5bn in global banking revenue and account for 15% of the market by 2026, according to a forecast by analysts at Swiss bank UBS... More
Global digital wallet spending to top $10tn in 2025
The total value of digital wallet transactions globally will reach more than US$10tn in 2025, according to Juniper Research, “with over 34% of mobile handsets set to use contactless payments in 2025, up from 11% in 2020.”... More
Juniper forecasts 2.2bn QR code payment users by 2025
The number of people using QR code payment services globally will rise from 1.5 billion in 2020 to more than 2.2 billion in 2025, representing close to one in three (29%) of all the world’s mobile phone users, Juniper Research predicts... More
ABI forecasts 2.5m biometric payment cards in 2021
As many as 2.5m biometric payment cards will be issued during 2021, according to an ABI Research forecast, with more than 20 biometric payment card pilots already underway across the globe... More
In-vehicle payments forecast to reach US$1bn by 2023
The total transaction value of in-vehicle payments will reach US$1bn by 2023, up from less than US$100m in 2020, according to a forecast by Gartner... More
RBR: 100m merchants worldwide to accept card payments by end 2025
The number of outlets worldwide accepting card payments will reach nearly 100m by the end of 2025, an increase driven by government initiatives to promote cashless payments and by an acceleration in the move to contactless payments during the Covid-19 pandemic, research from RBR predicts... More
JCB reports 30% rise in contactless payments volumes
The number of contactless transactions made by some 140 million JCB cardholders across 24 markets increased by more than 30% between July 2019 and July this year, the Tokyo-based payments network reports in a new white paper... More
Digital wallet user base to increase to 4bn by 2024
The number of digital wallet users globally will increase from 2.3bn in 2019 to 4bn in 2024 and global non-cash transactions will grow to nearly 1.1tn in 2023 from 708.5bn in 2019, according to the World Payments Report 2020... More
IDC: One in two wearables to include contactless payments support
Global shipments of wearable devices will reach a total of 396m units this year and increase to 637.1m in 2024, with the proportion of those offering support for contactless payments set to rise to nearly 50% by the end of the year, International Data Corp (IDC) predicts... More
One in five Japanese consumers to make mobile payments in stores this year
The number of people in Japan who use their smartphone to make mobile payments at the point of sale will reach 23.9 million — 21.5% of the population — by the end of this year, up from 19.1 million in 2019, according to an eMarketer forecast... More
Juniper forecasts “dramatic growth” in in-vehicle payments for fuel, parking and ecommerce
The transaction value of in-vehicle payments made using embedded onboard systems will rise from US$543m in 2020 to $86bn in 2025, driven by fuel, parking, food, drink and other ecommerce purchases, Juniper Research predicts... More
ABI forecasts $7.2bn market for wearable payment devices
The market for payment-enabled wearable devices will reach US$7.2bn in 2024, “driven by a surge in contactless payment adoption, as a result of growing usage of contactless cards and near field communication (NFC)-enabled mobile payments,” ABI Research predicts.... More
ABI: An extra 110m contactless cards will now be issued in 2020
An additional 110m contactless payment cards will be issued in 2020 compared with pre-Covid-19 forecast expectations, ABI Research predicts, bringing the total in circulation to more than 2bn... More
Berg Insight releases contactless POS terminal market stats
Shipments of NFC-ready POS terminals reached 47.8m units globally in 2019, bringing the total to 100.4m worldwide, according to Berg Insight... More
Juniper: Mobility-as-a-Service revenues to exceed $52bn by 2027
The impact of the coronavirus pandemic “will restrict the growth of MaaS platforms in 2020”, a new forecast from Juniper Research predicts, but MaaS initiatives “will rebound quickly in 2021 as cities re-evaluate their transport strategies”... More
BIS reports on likely impact of Covid-19 on cash, cards and mobile payments
The pandemic may result in increased calls to defend the role of cash, moves towards more quickly introducing central bank digital currencies and a structural increase in the use of mobile, card and online payments, a Bank for International Settlements (BIS) research bulletin analysing the likely impact of Covid-19 says... More
McKinsey: Coronavirus will cost the payments industry $165bn
An analysis of the global payments industry by McKinsey & Company predicts that Covid-19 will result in a loss of revenues of between US$165bn and US$210bn in 2020 — and sets out “ten fundamental changes to the payments ecosystem that will help all of us find a new normal.” More