Contactless payments tripling by 2024

undefinedJuniper Research reports that contactless payments will triple to $6 trillion worldwide by 2024, from about $2 trillion this year, as OEM mobile wallet transactions increase and banks expand the use of contactless cards. 

The report found that several factors will account for the increase, including the increased use of contactless POS and public transit use in the U.S. and widespread use of mobile wallets in the Chinese market, where billions of customers use smartphone-enabled apps for shopping, funds transfer and other uses. Read more….