The global annual value of contactless point of sale terminal transactions — conducted in-store using cards, mobile phones and wearables — will approach US$500bn in 2017, up from an estimated $321bn this year, Juniper Research predicts. “However, the low value nature of contactless payments means that it will only represent just 5% of the total value of all POS transactions in 2017,” the firm says.
- Wells Fargo adds support for Fitbit Pay
- Apple details Apple Pay Cash in updated iOS Security guide
- India to add face recognition to Aadhaar biometric ID system
- Bank of America reports 84% rise in P2P payment transactions
- One in five Brits to make mobile payments in stores this year