Contactless mobile payment users will reach a billion globally by 2024 according to Juniper Research.
This is an increase from 782 million in 2022, representing a growth of 60 percent over that time.
The report identified increased investment in contactless acceptance infrastructure, especially across emerging regions, as key to driving growth, through which over 200 million new contactless payment users will be added to the market by 2024.
The research predicts that increasing consumer demand for convenient and frictionless payment methods is also accelerating this growth, as consumers only require a smartphone or NFC-enabled device to use contactless payments, thus eliminating the need to carry multiple payment cards.