The mobile contactless payments market will be driven by Apple Pay, Samsung Pay, Google Pay, and other OEM Pay wallets for the next few years, according to a report from Juniper Research.
OEM Pay wallet users are expected to reach 450 million by 2020 with Apple accounting for 1 in 2 OEM Pay users.
Research author Nitin Bhas explained: “We believe that growth over the next 5 years will continue to be dominated by offerings from the major OEM players. Additionally, we now have the likes of Huawei Pay and Fitbit Pay launching in several markets; this is now included in Juniper’s contactless forecasts”.
Juniper forecasts that OEM Pay wallet users will process over $300 billion in transactions by 2020, about 15% of total contactless in-store transactions. Juniper also forecasts rapid growth in contactless tickets, with nearly 10 billion mobile contactless ticketing transactions by 2020. North America is expected to dominate the sector followed by the Far East & China.
More details in the full report linked below.
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OEM Pay wallet users are expected to reach 450 million by 2020 with Apple accounting for 1 in 2 OEM Pay users.
Research author Nitin Bhas explained: “We believe that growth over the next 5 years will continue to be dominated by offerings from the major OEM players. Additionally, we now have the likes of Huawei Pay and Fitbit Pay launching in several markets; this is now included in Juniper’s contactless forecasts”.
Juniper forecasts that OEM Pay wallet users will process over $300 billion in transactions by 2020, about 15% of total contactless in-store transactions. Juniper also forecasts rapid growth in contactless tickets, with nearly 10 billion mobile contactless ticketing transactions by 2020. North America is expected to dominate the sector followed by the Far East & China.
More details in the full report linked below.
Read More