North American contactless payment market is anticipated to grow at a CAGR 15.9% during the forecast period. The factor such as presence of technology giants such as Google, Amazon, and Apple among others, the development of contactless payment-based platform is positively growing. Thus, propels the growth of the North American contactless payment market during the forecast period. Software companies are investing in significant workforce and money to develop a platform that is more secure, more transparent as compare to other mode of payment and operates with decentralized authority.
Smart payments are the future collaterals of the business, which are directing the economy towards the transparent mode of operation. Well-established IT industry of the region supports the development of technology. The companies which are already in the IT industry are leveraging their efforts to support the adoption of the contactless payment platform. The companies are coming forward to collaborate with various financial institutions to develop robust, secure, transparent and decentralized platform due to growing challenges of cyber-crimes particularly across the market. The collaborations are the result of the evolution of new mode of payments. For instance, demand for online payment has been increased among various financial institutions due to faster payment methods.
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North American Contactless Payment Market Segmentation
By Device
- Smartphones
- Smart Cards
- Point of Sale Terminals
- Other
By End-User
- Retail
- BFSI
- Transportation
- Others
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Regional Analysis
- North American
- United States
- Canada
Company Profiles
- Bank of America Corp.
- Garmin Ltd.
- Glance Technologies Inc.
- Heartland Payment Systems
- IBM Corp.
- PayPal, Inc.
- Setomatic Systems Inc.
- Square Capital LLC
- Thales Group
- Valitor HF
- Verifone, Inc.
- Visa Inc.
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