Saturday, September 24, 2022

 

TECH

 

Global contactless transactions to reach a staggering $10 trillion

The value of global contactless transactions will reach $10 trillion by 2027, up from $4.6 trillion in 2022, according to research by Juniper.

Contactless ticket sales will also grow by more than 440% globally between 2022 and 2027, thanks to Apple Pay, Google Pay and Samsung Pay.

By 2027, 99% of all smartphones will be able to make contactless payments, an increase from 94%.

The forecast identifies the US as the world's leading NFC mobile payments market by volume, with 4.4 billion NFC mobile payments in 2022, rising to 8.3 billion in 2027.

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