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.

Major factor attributing to the dominance include presence of major market players in the US and Canada and another factor attributing to the high penetration rate in the US and Canada.  Among the US and Canada, the US holds the major market share in the market with the 91%. The major market players that are active in the North American contactless payment market includes 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. and Visa Inc.

Research Methodology

The market study of the North American 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. North American Contactless Payment  Market Research and Analysis by Device
2. North American Contactless Payment  Market Research and Analysis by End-User

The Report Covers

• Comprehensive research methodology of the North American 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 North American Contactless Payment market.
• Insights about market determinants which are stimulating the North American Contactless Payment market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.