Contactless POS Terminals to Handle $500 Billion in Transactions by 2017, Says Report
The value of contactless point-of-sale (POS) terminal transactions conducted in stores via cards, mobile devices and wearables will approach $500 billion worldwide by 2017, up from $321 billion this year, said a Juniper Research study Monday. The surge will be…
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tied to retailer obligations to card companies in many markets to ensure all terminals will be “contactless”-ready by 2020, it said. Contactless will represent half of payment cards issued by 2020, while smartphone and tablet-based POS terminals will handle 20 percent of all retail POS transaction value by 2021, it said.