Contactless payment market to be worth $100bn by 2026

Smartphone adoption and consumers warming up to it will push the contactless payment markets to be worth $100bn by 2026, according to a new report from Global Market Insights.

It also added that increasing enterprise as well as the increasing demand for point of sale terminals and more mobile wallets will help push the value of the market up in the next six years.

The researchers stated that it was hardly surprising that the adoption of contactless payment technology was set to rise as many companies are now offering it as a way to boost their customer experience.

The report comes after we previously reported that contactless payments have picked up speed in the Nordics due to Covid-19, jumping 12 percentage points in the first four months of 2020.

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