Us Contactless Payments Market Size By Applications, By Type, By End-User, By Deployment & By Technology 2032
Contactless Payments Market was valued at USD 13.98 Billion in 2022 and is projected to reach USD 29.18 Billion by 2030, growing at a CAGR of 10.35% from 2024 to 2030.
The U.S. contactless payments market has experienced remarkable growth, transforming the way consumers transact daily. As of 2023, contactless payments accounted for approximately 25% of all card transactions in the U.S., a significant rise from just 3% in 2017. This surge reflects a broader shift towards digital and touch-free payment methods.
Several factors contribute to this upward trajectory:
Consumer Adoption: Nearly 90% of U.S. consumers now utilize contactless payments, embracing the convenience and speed they offer.
Merchant Integration: Over 50% of in-store transactions in the U.S. were contactless in 2023, indicating widespread acceptance among retailers.
Technological Advancements: The proliferation of NFC-enabled devices and mobile wallets has facilitated seamless contactless transactions.
From my personal experience, the convenience of tapping my smartphone to pay has streamlined my shopping routines, reducing the need to handle cash or enter PINs. This personal shift mirrors the national trend towards embracing contactless solutions.
Financial institutions are also capitalizing on this trend. PayPal, for instance, has set ambitious growth targets, aiming for an 8% to 10% increase in branded checkout volume by 2027. Similarly, Mastercard reported a 10% rise in U.S. switched volumes in January 2025, underscoring the momentum in contactless payments.
Looking ahead, the U.S. contactless payment market is projected to reach approximately $71.85 billion by 2034, growing at a CAGR of 16.22% from 2025 to 2034. This growth is not only reshaping consumer behavior but also influencing related markets, such as the 100 Gigabit Fiber Optic Transceiver Market, which supports the infrastructure needed for swift and secure transactions.
In summary, the rapid adoption of contactless payments in the U.S. reflects a significant shift towards digital, efficient, and secure transaction methods, driven by consumer preferences and technological innovations.
Get an In-Depth Research Analysis of the Global Contactless Payments Market Size And Forecast [2025-2032]
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Ingenico Group
Verifone Systems
Inside Secure
On Track Innovations
Oberthur Technologies
Proxama
Wirecard
Giesecke & Devrient
Gemalto
Heartland Payment Systems
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Contactless Payments Market
Mobile Wallets
Near Field Communication (NFC)
QR Code Payments
Contactless Credit/Debit Cards
Wearables (Smartwatches, Fitness Bands)
Retail
Hospitality
Transportation
Healthcare
BFSI (Banking, Financial Services, and Insurance)
EMV (Europay, MasterCard, and Visa)
Magnetic Stripe
Tokenization
Biometric Authentication
Cloud-Based Systems
Age Groups
Income Levels
Tech-Savvy Consumers
In-Store Payments
Online and E-commerce Transactions
Bill Payments
Peer-to-Peer (P2P) Transactions
Automated Teller Machines (ATM) Transactions
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Contactless Payments Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Contactless Payments Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Contactless Payments Market, By Type
6. Global Contactless Payments Market, By Application
7. Global Contactless Payments Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Contactless Payments Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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