|Study: Digital payments see 20 percent boost globally|
|Written by Taylor Berglund|
|Monday, 21 March 2016 12:24 PM America/New_York|
A new study from Juniper Research has found the annual transaction value of online, mobile and contactless payments will reach $3.6 trillion this year. This total is up from $3 trillion in 2015, resulting in a 20 percent increase.
The new study, “Digital Payment Strategies: Online, Mobile & Contactless 2016-2020,” argues that the recent surge in contactless payments would continue, fueled by further scaling up of infrastructure rollout and increased card payment limits in key markets. The research also anticipates that while cards will account for 90 percent of contactless payments over the next five years, the deployment of NFC (Near Field Communications) payments by high-profile players such as Apple and Samsung would increase consumer awareness and usage of smartphones to fulfill transactions.