Contactless Payment Transactions to Hit $15.7 Trillion Globally by 2029, as Soft Point-of-Sale & Ticketing Roll-outs Accelerate Growth


Basingstoke, UK – 25th June 2024 : A new study by Juniper Research , the foremost experts in fintech and payments markets, found the value of contactless payment transactions will grow by 113% over the next five years, from $7.4 trillion in 2024.

Basingstoke, UK – 25th June 2024 : A new study by Juniper Research , the foremost experts in fintech and payments markets, found the value of contactless payment transactions will grow by 113% over the next five years, from $7.4 trillion in 2024.  

The new research, featuring comprehensive market sizing and forecasts for both Contactless Payments and Digital Ticketing, found greater contactless payment availability for smaller businesses with Soft POS (Point-of-Sale) systems, is powering growth. As access becomes more widespread, users increasingly expect contactless payments; creating a virtuous cycle of increasing use.

Contact us to download a sample of the data available for both Contactless Payments and Digital Ticketing now.

The launch of Soft POS systems, where contactless payments can be accepted using a compatible smartphone, is breaking down cost barriers to small and micro-merchants' adoption of contactless payments, increasing acceptance overall. Additionally, the study predicted that Apple’s recent announcement of Tap to Cash for person-to-person payments, and its extensive roll-outs of Tap to Pay on iPhone will further accelerate this transaction growth.

Contactless Ticketing Growing by Over 460%

The research found that the value of contactless ticketing transactions will increase by over 460% between 2024 and 2029; reaching $154 billion in 2029.

Contactless ticketing has gained significant traction within the transit space. Growth is particularly strong in the US, where it is experiencing widespread roll-out.

Research author Nick Maynard explained: “ Current contactless-based open-loop systems are supported by account-based ticketing systems, which facilitate different access tokens and subscriptions. This means that cities that have deployed open-loop ticketing are typically well prepared for a future transition to full MaaS (Mobility-as-a-Service offerings). Under MaaS, access to transit will be seamless and multimodal; unlocking a superior user experience across a wider range of transit options .”

About the Research Suites

The new data & forecasting suites offer the most comprehensive resource for the Contactless Payments & Digital Ticketing markets to date, providing 139,000 datapoints of forecasts combined, across 60 countries over five years.

Juniper Research has, for two decades, provided market intelligence and advisory services to the global financial sector, retained by many of the world’s leading banks, intermediaries, and providers.

For further details please contact Sam Smith, Press Relations

  • T: +44(0)1256 830002
  • E: sam.smith@juniperresearch.com

Related Research

For related research please browse our  Fintech & Payments  section and associated topics:

Juniper Research offers research and analytical services to the global hi-tech communications sector; providing consultancy, analyst reports and industry commentary.
For further details contact Sam Smith, Press Relations T: +44(0)1256 830002 E: sam.smith@juniperresearch.com

Add new comment