Asia-Pacific contactless payment market is anticipated to grow at a CAGR 16.2% during the forecast period. Asia-Pacific is the fastest growing region in ICT sector due to its rapid transformation towards digital economies. Region comprises fastest emerging economies of India and China. Additionally, growing South East Asian countries such as Indonesia, Philippines, Singapore and others are gradually adopting advanced technologies in order to keep pace with competitive economies of the region and beyond Asia-Pacific as well. 

Contactless payment is one such advanced technology, emerging economies are eyeing upon. Over the last decade, the contactless payments have witnessed dramatic changes with the rise of digital payments. The accelerating growth makes contactless payments an expanding and increasingly important component of the banking sector. Various financial institutions are continuously working with tech giants to develop contactless payment based platforms in order to reduce potential threats of cyber-attacks. Growing demand of contactless payment technology in financial services is rapidly taking the payment method from a buzzword to mainstream business. Though, the US and Europe are development centers for contactless payment technology due to presence of tech giants in these regions; Asia Pacific is testing ground for contactless payment due to its complex and penetrable financial infrastructure. 

Moreover, the region is advancing towards contactless payment technology to encourage its competitiveness and to create a potential business market in order to attract huge amount of investments. The growth of the payments component also points to the imperative for financial institutions to develop and continually refresh sound payments strategies in order to remain competitive in market, being reshaped by technology, new competition, and customer demands. The major players that are active in the market include Giesecke & Devrient GMBH, GEMALTO NV, VISA, INC., Wirecard AG, Verifone Systems INC, VALITOR HF, IBM CORP., Heartland Payment Systems and Infineon Technologies AG.

Research Methodology

The market study of the Asia-Pacific Contactless Payment market is incorporated by extensive primary and secondary research conducted by the research team at OMR.  Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report is intended for the electronic and IT industry, ICT (Information and Communication Technology) and other related companies for overall market analysis and competitive analysis. The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. The Asia-Pacific  Contactless Payment  Market Research and Analysis by Device
2. The Asia-Pacific  Contactless Payment  Market Research and Analysis by End-User

The Report Covers

• Comprehensive research methodology of the Asia-Pacific Contactless Payment market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the Asia-Pacific Contactless Payment market.
• Insights about market determinants which are stimulating the Asia-Pacific Contactless Payment market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.