• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Our Services
  • Contact Us
  • Newsletter
  • Top Nav Social Icons

Mobile ID World

Mobile ID World

Identification Revolution

  • Mobile ID
    • What Is Mobile ID?
    • Identity Associations
    • Premier Partners
    • FAQ
  • News
  • Solutions
    • Behavioral
    • Facial Recognition
    • Fingerprint Biometrics
    • Iris Biometrics
    • Second Factor
    • Smart Cards
    • Smartphones
    • Vital
    • Voice
    • Wearable Tech
    • Other
  • Applications
    • Access Control
    • Cloud Technology
    • Commerce
    • Enterprise
    • Healthcare
    • Identification
    • Internet of Things
    • Law Enforcement
    • Strong Online Authentication
  • Exclusive
    • Interviews
    • Featured Articles
    • Podcasts
  • Companies
  • Events

Juniper Anticipates $2.5 Trillion in Contactless Card Transactions in 2021

July 28, 2021

Juniper Research has released a new report that demonstrates how COVID-19 has changed people’s purchasing habits. The report found that the use of contactless cards went up dramatically during the pandemic, with the total value of contactless card transactions jumping from $1.7 trillion in 2020 to an anticipated $2.5 trillion in 2021.

Juniper Anticipates $2.5 Trillion in Contactless Card Transactions in 2021

That $2.5 trillion figure represents 79 percent of all contactless transactions for the year, which makes cards the most popular method for those making contactless purchases. That trend is expected to continue into the future, especially as biometric payment cards allow financial institutions to raise payment caps without sacrificing security.

In the meantime, Juniper credited the sudden spike in contactless card transactions to increased penetration in major markets that had been reluctant to adopt the technology. That includes Germany and the US, with the latter enjoying a 136 percent contactless transaction bump between 2020 and 2021. Juniper noted that health concerns prompted more retailers to offer support for contactless payment options, which in turn made it easier for individual consumers to make the switch at the checkout counter.

US contactless card use is expected to climb an additional 300 percent in the next five years. Juniper credited that to the convenience of the technology, suggesting that people are more likely to keep using contactless cards once they have discovered the potential benefits.

“Markets such as Germany have seen an unprecedented shift towards contactless cards in the past 18 months,” said research author Susannah Hampton. “This shift has severely diminished the role of cash and created significant opportunities for card issuers to gain market share.”

Juniper has previously reported that biometrics will be used to authorize $3 trillion worth of payments by 2025, up from only $404 billion in 2020. The firm believes that facial recognition and behavioral biometrics will be two of the more popular forms of authentication.

Filed Under: Industry News Tagged With: Biometric, biometrics, contactless payment cards, contactless payments, contactless transactions, COVID-19, Juniper Research, market research, market trends, payments

Related News & Articles

Overwhelming Evidence Points to In-Display Fingerprint Sensor for Two Galaxy S10 Models

Vivo’s In-Display Fingerprint Biometrics to Reach New Markets

Fime Approved as Sahamati Certifier in India

Primary Sidebar

Learn About Mobile ID and Aviation

Tweets

Sponsored Links

facetec logo

FaceTec’s patented, industry-leading 3D Face Authentication software anchors digital identity, creating a chain of trust from user onboarding to ongoing authentication on all modern smart devices and webcams. FaceTec’s 3D FaceMaps™ make trusted, remote identity verification finally possible. As the only technology backed by a persistent spoof bounty program and NIST/iBeta Certified Liveness Detection, FaceTec is the global standard for Liveness and 3D Face Matching with millions of users on six continents in financial services, border security, transportation, blockchain, e-voting, social networks, online dating and more. www.facetec.com

FACEPHI is a global leader in Facial Recognition technology and in Mobile Biometrics technologies. With a strong concentration in the financial sector, FacePhi’s product is rapidly becoming a service used by banks all over the world. Its implementation doesn’t just save money, it is also a way to attract clients and build loyalty, while increasing the security of transactions for both the customer and the business. To learn more about FacePhi, visit https://www.facephi.com/en/

Recent Posts

  • HID Attains Anti-Spoofing Milestone With Lumidigm Fingerprint Biometrics
  • Video Interview: Learn How Biometrics Are Fighting AI-Enhanced Fraud with Onfido’s Therese Stowell
  • The Path to Biometric Universal Basic Income: Worldcoin Raises $115M in Series C Funding
  • Kenyan Officials Detail Ambitious Digital ID Plan
  • IDEMIA Brings Mobile ID to Missouri

Footer

  • About Us
  • Company Directory
  • Advertise With Us
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • Archives
  • CCPA: Do not sell my personal info.

Follow Us

Copyright © 2023 MobileIDWorld