Contactless Payment Terminals Market Research Report: By Application (Retail, Hospitality, Transportation, Healthcare, Entertainment), By Terminal Type (Mobile Payment Terminals, Fixed Payment Terminals, Integrated Payment Terminals), By Technology (NFC, RFID, Magnetic Secure Transmission), By User Type (Small Enterprises, Medium Enterprises, Large Enterprises) and By Regional (North America, Europe, South America, Asia-Pacific, Middle East and Africa) - Forecast to 2035.

Contactless Payment Terminals Market Overview

As per MRFR analysis, the Contactless Payment Terminals Market Size was estimated at 11.4 (USD Billion) in 2023.The Contactless Payment Terminals Market Industry is expected to grow from 12.66(USD Billion) in 2024 to 40.0 (USD Billion) by 2035. The Contactless Payment Terminals Market CAGR (growth rate) is expected to be around 11.03% during the forecast period (2025 - 2035).

Key Contactless Payment Terminals Market Trends Highlighted

The Global Contactless Payment Terminals Market is expanding due to the increasing need for timely and easy payment methods. Consumers prefer contactless payments because of their convenience and speed, which cater to the customer's needs. Moreover, the increase in smartphone use and improvements in mobile wallet technology are tremendously driving this trend. The growing adoption of contactless terminals further propels the market as retailers look to enhance operational efficiency and optimize transaction processes. The adoption of contactless solutions is also driven through investments in new payment technologies triggered by the changing requirements of consumers towards more secure payment methods.

There are numerous opportunities to be explored within this market. As more businesses recognize the benefits of contactless payment systems, developers and manufacturers can innovate by creating more advanced terminal features, such as enhanced security protocols and integrations with loyalty programs. Emerging markets present a chance for expansion, as many regions are still transitioning from cash-based systems. By targeting these areas, companies can establish a strong foothold and drive adoption. The integration of IoT technologies in payment terminals also hints at future advancements, offering new functionalities that could attract a broader range of customers.

Recent trends indicate a growing emphasis on contactless payment methods spurred by the global shift toward digitization and a preference for hygienic payment options, especially in light of health concerns. Furthermore, the regulatory landscape continues to evolve, with authorities supporting digital payment infrastructure to promote financial inclusion. As a result, businesses are increasingly aware of the importance of adapting to this changing environment. Overall, the contactless payment terminals market is poised for significant growth as technology advances and consumer adoption increases, reflecting a broader transition towards a cashless society.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Contactless Payment Terminals Market Drivers

Growing Demand for Contactless Transactions

The rising demand for contactless transactions has emerged as a prominent driver for the Global Contactless Payment Terminals Market Industry. As consumers increasingly seek convenience, security, and speed in payment processes, businesses are compelled to adopt contactless solutions to remain competitive. The COVID-19 pandemic has further accelerated this shift, as health concerns prompted more users to opt for contactless payment methods to minimize physical contact.

This growing trend has led to an increase in mobile wallet usage and NFC-enabled cards, significantly propelling the market forward. Retailers and service providers are now investing heavily in technologies that support contactless payments across various sectors, including retail, hospitality, and transportation. The wider consumer acceptance of digital wallets and contactless cards enhances the overall market landscape, making it imperative for merchants to integrate such systems into their operations. As the market expands and evolves, it is anticipated that innovation in payment terminal technology will lead to even more sophisticated solutions, attracting business operators of all sizes. The drive towards a cashless economy aligns with the growing capabilities of contactless payment technologies, signaling a bright future for the Contactless Payment Terminals Market Industry.

Technological Advancements

Technological advancements play a crucial role as a driving factor for the Global Contactless Payment Terminals Market Industry. The continuous evolution of technology, particularly in mobile devices and payment solutions, has empowered users with various options for making transactions. Innovations such as Near Field Communication (NFC), RFID technology, and biometric authentication not only enhance security but also improve the overall payment experience. Businesses are increasingly adopting modern contactless payment terminals that incorporate these technologies, making it easier for consumers to conduct transactions instantly and securely. As technical capabilities expand, the acceptance of contactless payments across diverse platforms is anticipated to grow, driving market demand and facilitating the shift towards digital payment solutions in various sectors.

Increase in E-Commerce and Online Shopping

The surge in e-commerce and online shopping presents a significant driver for the Global Contactless Payment Terminals Market Industry. As consumer behavior shifts towards online platforms for purchasing goods and services, the need for secure and quick payment solutions becomes paramount. Contactless payments enhance the ease of transactions, facilitating a seamless shopping experience for consumers. Retailers are increasingly integrating contactless payment options during the checkout process to cater to the growing demand for convenience and efficiency, further propelling market growth. This trend is expected to continue as more consumers embrace online shopping, creating opportunities for contactless payment terminals to thrive.

Contactless Payment Terminals Market Segment Insights

Contactless Payment Terminals Market Application Insights

The Global Contactless Payment Terminals Market has been experiencing notable growth, particularly within the Application segment, which includes various sectors like Retail, Hospitality, Transportation, Healthcare, and Entertainment. In 2024, the overall market was valued at 12.66 USD Billion and is expected to reach 40.0 USD Billion by 2035. In this diverse landscape, the Retail sector holds the majority share, valued at 5.0 USD Billion in 2024, and is anticipated to grow significantly to 15.0 USD Billion by 2035, highlighting the pervasive use and consumer preference for contactless payment solutions in shopping environments. The Hospitality sector follows, with a valuation of 2.5 USD Billion in 2024, expected to rise to 8.0 USD Billion by 2035. This sector benefits from enhanced customer service capabilities, facilitating quick transactions, which are becoming essential in fast-paced environments like hotels and restaurants.

Transportation also plays a crucial role, with valuations of 2.0 USD Billion in 2024 and reaching 6.0 USD Billion by 2035, showcasing the industry's trends towards more efficient fare collection systems and reduced transaction times. Healthcare, valued at 2.16 USD Billion in 2024 and estimated to grow to 6.5 USD Billion by 2035, emphasizes the secure handling of sensitive patient data while streamlining payment processes. The Entertainment sector, while contributing a smaller share with a value of 1.0 USD Billion in 2024, is expected to reach 4.5 USD Billion by 2035, driven by digital ticketing solutions for events and attractions that prioritize user convenience and automated services.

Across these sectors, the Global Contactless Payment Terminals Market revenue reflects a strong shift toward adopting cashless transactions due to the growing demand for speed, security, and convenience. Market growth is being driven by technological advancements and increasing consumer preferences for contactless payments, highlighting a significant trend towards integrating contactless technology in everyday transactions. Although each sector exhibits unique characteristics and growth dynamics, they collectively emphasize the opportunities presented by evolving consumer behavior and the necessity for efficient payment solutions. The data gathered underscores an optimistic outlook for the sector, outlining key opportunities for market players and driving innovation within the Global Contactless Payment Terminals Market industry overall.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Contactless Payment Terminals Market Terminal Type Insights

The Global Contactless Payment Terminals Market is a rapidly growing segment, was valued at 12.66 USD Billion in 2024 and is expected to reach 40.0 USD Billion by 2035. Within this market, the Terminal Type holds significant importance, comprising Mobile Payment Terminals, Fixed Payment Terminals, and Integrated Payment Terminals. Mobile Payment Terminals have been increasingly adopted due to their flexibility and convenience, allowing businesses to accept payments on the go, which is essential for various retail and service sectors.

Fixed Payment Terminals, on the other hand, are typically found in brick-and-mortar stores and continue to dominate in terms of transaction volumes due to their stability and ease of use in traditional retail environments. Integrated Payment Terminals combine various functionalities, which enhances transaction efficiency and provides businesses with valuable data, thereby gaining traction among large enterprises looking for seamless payment solutions. Overall, the Global Contactless Payment Terminals Market segmentation highlights a promising landscape with strong advancements in technology driving growth while businesses seek to capitalize on the increasing demand for efficient and flexible payment solutions. Market growth is further fueled by convenience trends and consumer preferences for contactless transactions, alongside increasing digital payment adoption across various industries.

Contactless Payment Terminals Market Technology Insights

The Global Contactless Payment Terminals Market within the Technology segment is poised for notable growth, with a market value reaching 12.66 USD Billion in 2024, growing towards 40.0 USD Billion by 2035. The anticipated growth is largely driven by the increasing adoption of various technologies, including NFC, RFID, and Magnetic Secure Transmission, each playing a crucial role in enhancing user convenience and security. NFC technology has gained significant traction due to its ease of use and compatibility with smartphones, serving as a major driver of contactless transactions.RFID, on the other hand, is particularly important for its application in inventory management and logistics, ensuring faster payment processing. Magnetic Secure Transmission continues to support the secure transfer of payment data, further solidifying its relevance in the market. As mobile payment solutions become increasingly popular, the Global Contactless Payment Terminals Market data reflects the adaptation and integration of these technologies, paving the way for future developments. The combination of these factors contributes to the overall market growth, highlighting a strong potential for expansion in the foreseeable future.

Contactless Payment Terminals Market User Type Insights

In the Global Contactless Payment Terminals Market, the User Type segment plays a crucial role in understanding how different businesses leverage this technology. As of 2024, the overall market is positioned at 12.66 billion USD, highlighting the growing demand for efficient payment solutions. The market is significantly influenced by small enterprises, which often seek cost-effective payment options to enhance customer experience and streamline operations. Medium enterprises have also shown a strong inclination towards upgrading their payment systems to cater to a wider customer base, thus contributing to the market's growth.

Large enterprises dominate the segment as well, primarily due to their extensive operational networks and the need for advanced, secure payment terminals to manage higher transaction volumes. The Global Contactless Payment Terminals Market segmentation into these user types aids in understanding the varying requirements and challenges faced by different business sizes, as well as the potential opportunities for targeted solutions in the rapidly evolving payment landscape. As contactless payments continue to gain traction, these user categories will significantly shape the market trends and growth dynamics observed in the industry.

Contactless Payment Terminals Market Regional Insights

The Global Contactless Payment Terminals Market exhibits a diverse regional landscape, with North America leading the charge, reaching 5.4 USD Billion in 2024 and expanding to 17.2 USD Billion by 2035, showcasing its majority holding in the market. Europe also plays a significant role, with a valuation of 3.8 USD Billion in 2024, growing to 12.0 USD Billion by 2035, reflecting strong adoption rates. The APAC region follows, valued at 2.8 USD Billion in 2024 and expected to grow to 9.0 USD Billion in 2035, driven by increasing smartphone penetration and urbanization.

South America and MEA demonstrate smaller segments, with valuations of 0.9 USD Billion and 0.76 USD Billion, respectively, in 2024, indicating emerging opportunities for growth. By 2035, South America could reach 3.0 USD Billion, while MEA may grow to 2.8 USD Billion. The overall trend reflects a robust demand for contactless solutions due to convenience and efficiency, with regional performance influenced by each area's technological infrastructure and consumer behavior. The market growth is supported by increasing contactless payment acceptance across various businesses, making these regional insights critical for understanding the Global Contactless Payment Terminals Market dynamics.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Contactless Payment Terminals Market Key Players and Competitive Insights

The Global Contactless Payment Terminals Market has witnessed significant advancements and competitive dynamics as the demand for seamless and efficient transaction methods continues to grow. With an increasing number of businesses adopting contactless technologies, numerous players are vying for market share by innovating their offerings and enhancing user experiences. The competition in this market is fueled by advancements in technology, rising consumer preferences for cashless transactions, and regulatory support that promotes digital payment solutions. Companies are focusing on enhancing product capabilities, ensuring security, and providing value-added solutions to retain and attract customers. This landscape is characterized by both established financial institutions and nimble startups, each striving to carve out a niche in this rapidly evolving sector.

Square has established a significant presence in the Global Contactless Payment Terminals Market, capitalizing on its strengths in providing user-friendly and versatile payment solutions. The company's integration of hardware and software solutions works seamlessly, allowing merchants to accept a variety of payment methods, including contactless payments. Square's commitment to innovation is evident in its continuously evolving technology, enabling it to cater to both small and large businesses efficiently. Additionally, the reliability and robustness of Square's payment terminals have garnered considerable trust among users. Strong customer service and support further enhance its reputation, making Square a preferred choice for many merchants seeking an efficient and straightforward payment processing solution.SumUp has also made a notable impact in the Global Contactless Payment Terminals Market, focusing on empowering small businesses with easy-to-use payment solutions. 

The company's strength lies in its simple pricing model and a no-contract approach, which appeals to entrepreneurs looking for flexibility. SumUp's terminals are designed to optimize the payment experience, allowing businesses to accept payments quickly and securely with minimal transaction fees. The user-centric design of SumUp's technology simplifies the payment process, enabling quick transactions that enhance customer satisfaction. Moreover, its robust analytics tools help merchants gain valuable insights into their sales history, enabling informed business decisions. This combination of user-friendly technology and strategic pricing has cemented SumUp's position as a reliable player in the competitive landscape of contactless payment terminals.

Key Companies in the Contactless Payment Terminals Market Include

• Square


• SumUp


• Ingenico Group


• First Data


• Adyen


• PayPal


• Zettle


• Spire Payments


• Worldline


• Verifone Systems


• Clover Network


• Diebold Nixdorf


• PAX Technology


• NCR Corporation

Contactless Payment Terminals Market Industry Developments

Significant developments have emerged in the Global Contactless Payment Terminals Market, with key players like Square, SumUp, Ingenico Group, First Data, Adyen, and PayPal enhancing their offerings to meet rising consumer demand for touchless transactions. These companies are investing heavily in technology upgrades and expanded service portfolios. For instance, Ingenico Group has introduced new integrated solutions designed to streamline payment processes for merchants. Moreover, recent financial performance reports indicate substantial growth in market valuation, as companies like Verifone Systems and Zettle are experiencing increased adoption rates of contactless payment technology across various sectors. On the M&A front, there have been notable acquisitions aimed at bolstering competitive positioning, particularly in the case of Clover Network and Spire Payments, which are focusing on expanding their market reach through strategic partnerships and acquisitions. Additionally, the continued interest from investors reflects confidence in the long-term growth prospects of the sector, driven by the shift towards digital payments and cashless transactions, a trend further accelerated by the COVID-19 pandemic. Overall, these trends underscore a dynamic and rapidly evolving landscape in the Global Contactless Payment Terminals Market.

Contactless Payment Terminals Market Segmentation Insights

Contactless Payment Terminals Market Application Outlook

• Retail


• Hospitality


• Transportation


• Healthcare


• Entertainment

Contactless Payment Terminals Market Terminal Type Outlook

• Mobile Payment Terminals


• Fixed Payment Terminals


• Integrated Payment Terminals

Contactless Payment Terminals Market Technology Outlook

• NFC


• RFID


• Magnetic Secure Transmission

Contactless Payment Terminals Market User Type Outlook

• Small Enterprises


• Medium Enterprises


• Large Enterprises

Contactless Payment Terminals Market Regional Outlook

• North America


• Europe


• South America


• Asia-Pacific


• Middle East and Africa