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Contactless Payment Market to be Worth $164.15 Billion by 2030: Grand View Research, Inc.

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The global contactless payment market size is expected to reach USD 164.15 billion by 2030, registering a CAGR of 19.1% during the forecast period, according to a new study conducted by Grand View Research, Inc. Growing adoption of new payment technologies, such as Host-based Card Emulation (HCE) and Near Field Communication (NFC) for the contactless payments, is anticipated to drive the market growth. Furthermore, a significant increase in digitalization and e-commerce platforms across the globe is boosting the growth of the contactless payment market.

Key Industry Insights & Findings from the report:

  • The smartphone based payments segment is expected to witness rapid growth during the forecast period. Growing adoption of digital wallets for making contactless payments worldwide is expected to drive the growth of the segment.
  • Retail segment dominated the market in 2021. Adoption of the new payment technologies by the retailers in order to increase revenue and reduce transaction time is expected to propel the growth of the segment.
  • North America dominated the regional market in 2021. Growing demand for contactless payments across the region is expected to play an important role in driving the growth of the regional market.

Read 140-page market research report, “Contactless Payment Market Size, Share & Trends Analysis Report By Type (Smartphone Based Payments, Card Based Payments) By Application (Retail, Transportation, Healthcare, Hospitality), By Region, And Segment Forecasts, 2022 – 2030“, published by Grand View Research.

Contactless Payment Market Growth & Trends

Thales Group, in a survey, stated that by 2023, there would be more than 2.6 billion contactless payment cards in circulation, owing to the technology’s rapid adoption in the markets such as South Asia, the U.S., and Brazil. Contactless card transactions are rapidly increasing in early-adopter markets such as the U.K., CanadaEurope, and Australia. For instance, “tap and pay” now accounts for more than 40.0% share of all card transactions in the U.K.

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An increasing number of companies in the North American region are focusing on innovative solutions for the e-wallet market. For instance, in January 2022, Rev USA, Inc., a Fintech company, announced the worldwide availability of The X World Wallet, an app-based wallet. The X World Wallet has the capability to easily load to the users existing bank accounts and can be linked to digital or physical Visa cards that can be easily added to the Google, Apple, and Samsung Pay wallets for tap-and-go convenience.

The COVID-19 outbreak played a vital role in driving the growth of the contactless payment market during the forecast period. Contactless payments are in demand among restaurants due to their greater convenience, ordering accuracy, and lack of human contact. Moreover, various digital wallet companies in Canada also experienced significant growth as consumers focused more on digital wallet solutions during COVID-19. For instance, Interac Debit for In-App and In-Browser Payments experienced double-digit growth in Canada since its launch in 2019.

Contactless Payment Market Segmentation

Grand View Research has segmented the global contactless payment market based on the type, application, and region

Type Outlook (Revenue, USD Million, 2017 – 2030)

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  • Smartphone Based Payments
  • Card Based Payments
  • Credit Cards
  • Debit Cards
  • Others

Application Outlook (Revenue, USD Million, 2017 – 2030)

  • Retail
  • Consumer Electronics
  • Fashion & Garments
  • Others
  • Transportation
  • Healthcare
  • Hospitality
  • Others

Regional Outlook (Revenue, USD Million, 2017 – 2030)

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • Italy
    • Spain
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa

List of Key Players of Contactless Payment Market

  • Thales
  • Visa Inc.
  • Giesecke & Devrient GmbH
  • MasterCard
  • Apple Inc.
  • PayPal Holdings Inc.
  • American Express Company
  • Amazon.com, Inc.
  • Alibaba.com.
  • Pay U

Check out more related studies published by Grand View Research:

  • Cryptocurrency Payment Apps Market – The global cryptocurrency payment apps market size is expected to reach USD 2.15 billion by 2030, growing at a CAGR of 16.6% from 2022 to 2030, according to a new study conducted by Grand View Research, Inc. The growing adoption of blockchain technology is anticipated to drive the growth of the market. The increased emphasis cryptocurrency payment app providers are putting on offering enhanced payment solutions also bodes well for the growth of the market.
  • ATM Software Market – The global ATM software market size is anticipated to reach USD 7.50 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 4.5% from 2022 to 2030. The popularity of new ATM software technology in the banking & financial sector has been gaining momentum as the demand for cardless transaction through facial recognition, QR code, and UPI has risen tremendously over the years, acting as one of the key drivers of market growth.
  • Outdoor Payment Terminal Market – The global outdoor payment terminal market size is expected to reach USD 2.9 billion by 2030, according to a new study conducted by Grand View Research, Inc. The market is expected to witness a CAGR of 8.7% from 2022 to 2030. Smartphone-based transactions are one type of payment method frequently used at the Outdoor Payment Terminal (OPT) at the global level. This is because of the rising consumer awareness about the security features such as facial recognition and biometric software offered by smartphone-based payments.

Browse through Grand View Research’s Next Generation Technologies Industry Research Reports.

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Blocks & Headlines: Today in Blockchain – May 9, 2025

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Welcome to Blocks & Headlines, your daily deep-dive into the most impactful movements in blockchain technology and the cryptocurrency sector. In today’s edition, we unpack five major stories that illuminate trends in funding, sustainability, payment innovation, banking collaborations, and technical interoperability—all vital signposts for developers, investors, and Web3 enthusiasts. Here’s what’s on the docket:

  1. Camp Network’s New IP-Focused Testnet

  2. Blockchain for Sustainable Packaging

  3. Meta’s Blockchain-Based Payment System Plans

  4. Mocse Credit Union Joins Metal Blockchain’s Innovation Program

  5. Apex Fusion on the Urgency of Blockchain Defragmentation

Through concise reporting, opinion-driven analysis, and SEO-optimized insights—featuring keywords like blockchain, cryptocurrency, Web3, DeFi, and NFTs—we’ll explore how these developments shape the next wave of decentralized finance, enterprise adoption, and mass onboarding.


1. Camp Network Launches Testnet for IP-Focused Blockchain

What Happened:
Camp Network has unveiled its long-anticipated testnet following a $30 million funding round led by leading crypto VCs. This new network is tailored for intellectual property (IP) asset tokenization, aiming to streamline rights management and royalty payments via smart contracts.

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  • Technical Highlights:

    • Modular Consensus: Hybrid PoS/PoA consensus that allows IP rightsholders to validate transactions.

    • On-Chain Licensing: Smart contracts enabling programmable licensing terms, automated royalty splits, and revocable access controls.

    • Interoperability: Bridges to Ethereum and Polygon enable seamless asset transfers and liquidity provisioning.

Analysis & Implications:
By focusing on IP tokenization, Camp Network addresses a glaring gap in current NFT platforms, which often lack robust legal-framework integration. This specialization could catalyze:

  • New Revenue Models: Musicians, authors, and inventors can fractionalize royalties, unlocking liquidity and democratizing investment in creative works.

  • Institutional Adoption: Traditional publishers and studios may pilot tokenized licensing, accelerating blockchain’s entrée into regulated industries.

  • Secondary Markets: With on-chain licensing data, marketplaces can enforce provenance and anti-fraud measures more effectively.

Camp Network’s testnet success will hinge on developer tooling, legal partnerships, and gas-fee economics. Should it deliver a smooth UX and clear ROI for rightsholders, it could set a new standard for Web3 IP infrastructure.

Source: The Block


2. Blockchain as a Sustainable Packaging Game-Changer

What Happened:
A recent report explores how blockchain can revolutionize sustainable packaging by delivering end-to-end supply-chain transparency. The solution combines on-chain tracking of materials, IoT sensor data for carbon footprint measurement, and tokenized incentives for recycling.

  • Key Components:

    • Immutable Traceability: Each packaging component is logged on a public ledger, enabling consumers to verify sustainable sourcing.

    • Carbon Credit Tokens: Brands earn tokenized credits when they hit recycling targets, tradable on carbon-market DAOs.

    • Consumer-Facing Apps: QR-code scanning interfaces reveal environmental impact metrics and reward programs.

Analysis & Implications:
Integrating blockchain with sustainable packaging tackles greenwashing and fragmented reporting. The ability to tie physical materials to on-chain records introduces:

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  • Enhanced Accountability: Brands face real-time public scrutiny of ESG claims, improving trust and regulatory compliance.

  • Market Mechanisms: Carbon credit tokens linking packaging to broader DeFi ecosystems incentivize circular economy behaviors.

  • Consumer Engagement: NFTs or loyalty tokens tied to sustainable purchases could accelerate brand loyalty in eco-conscious demographics.

This convergence of blockchain, IoT, and token economics exemplifies how decentralized technologies can underpin not only financial systems but also planetary stewardship.

Source: Yahoo Finance


3. Meta Plans New Blockchain-Based Payment System

What Happened:
Meta is reportedly developing a blockchain-powered payment network to underpin its digital wallet ambitions, aiming to facilitate low-fee remittances, in-app purchases, and peer-to-peer transfers across Facebook, Instagram, and WhatsApp.

  • Proposed Features:

    • Cross-Border Settlements: Utilizing stablecoins pegged to major fiat currencies to avoid volatility.

    • Layer-2 Scalability: Built atop an Ethereum Layer-2 or a proprietary chain to ensure sub-second confirmation times and minimal fees.

    • Regulatory Compliance: On-chain KYC/AML checks integrated via permissioned sidechains.

Analysis & Implications:
Meta’s push into blockchain payments could reshape the competitive landscape:

  • Crypto On-Ramp: With 3 billion+ monthly users, built-in wallet functionality could massively expand mainstream cryptocurrency adoption.

  • Disintermediation Risk: Traditional payment processors and remittance services face margin compression as Meta internalizes transaction flows.

  • Regulatory Scrutiny: Centralized control of a global payments network raises data-privacy and antitrust questions, likely attracting significant oversight.

If Meta balances decentralization ethos with compliance demands, it could serve as a blueprint for other Big Tech firms eyeing Web3 integration.

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Source: Dig.watch


4. Mocse Credit Union Joins Metal Blockchain’s Banking Innovation Program

What Happened:
Mocse Credit Union has signed on to Metal Blockchain’s Banking Innovation Program, a consortium designed to accelerate pilot projects in tokenized lending, fractional deposits, and programmable savings accounts.

  • Program Benefits:

    • Sandbox Environment: Regulatory-compliant testbeds for tokenized asset experiments.

    • API Integrations: Plug-and-play modules for KYC, smart-contract auditing, and fiat-crypto on-ramps.

    • Co-Innovation Workshops: Joint labs with fellow financial institutions and DeFi projects.

Analysis & Implications:
This partnership signals the banking sector’s growing willingness to explore blockchain beyond hype:

  • Tokenized Deposits: By issuing interest-bearing stablecoin equivalents, credit unions can attract a new demographic of digitally native savers.

  • Risk Management: Sandboxed pilots allow institutions to evaluate smart-contract risks without exposing core systems.

  • Interoperable Finance: Aligning legacy banking with DeFi rails can unlock hybrid products—e.g., flash loans collateralized by insured deposits.

Such collaborations could spearhead a wave of embedded finance offerings, blurring the lines between centralized and decentralized banking infrastructures.

Source: Newswire

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5. Apex Fusion: Defragmenting Blockchain for Mass Adoption

What Happened:
In an op-ed, Apex Fusion argues that blockchain interoperability and defragmentation are critical prerequisites for mainstream Web3 uptake. The piece advocates standardized cross-chain messaging protocols, unified identity layers, and aggregated liquidity pools.

  • Core Proposals:

    • Protocol Neutral Messaging: A universal middleware to transmit value and data across disparate chains.

    • Decentralized Identity (DID): A shared credential framework enabling seamless dApp logins without wallet-hopping.

    • Liquidity Hubs: Cross-chain Automated Market Makers (AMMs) that pool assets to reduce slippage and gas friction.

Analysis & Implications:
A fragmented blockchain ecosystem hinders user experience and developer efficiency:

  • Onboarding Friction: New users face wallet complexity, chain-switching hassles, and inconsistent UX across apps.

  • Capital Inefficiency: Isolated liquidity silos lead to higher trading costs and limit DeFi yield optimization.

  • Developer Overhead: Building multichain dApps requires fragmented toolkits and disparate security audits.

Solving these challenges through interoperable frameworks will be pivotal for DeFi, NFT, and enterprise Web3 solutions to scale beyond niche audiences. Apex Fusion’s recommendations may inform upcoming standards efforts by bodies like the Blockchain Governance Initiative Network (BGIN).

Source: Euro Weekly News


Conclusion

Today’s blockchain developments reflect a maturing industry at the crossroads of innovation and integration:

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  • Specialized Networks: Camp Network’s IP testnet showcases niche use-cases driving targeted blockchain deployments.

  • Sustainability & Token Economics: Linking environmental impact to on-chain incentives demonstrates blockchain’s potential in non-financial arenas.

  • Big Tech Entry: Meta’s payment ambitions could accelerate global crypto adoption while raising regulatory stakes.

  • Banking Collaboration: Programs like Metal Blockchain’s underscore financial institutions’ appetite for safe, regulated Web3 experimentation.

  • Interoperability Imperative: As Apex Fusion highlights, defragmentation and cross-chain standards are essential for seamless UX and liquidity flow.

As blockchain weaves deeper into finance, supply chains, and digital ecosystems, the future hinges on striking the right balance between decentralization, compliance, and user-centric design. Stay tuned for tomorrow’s Blocks & Headlines where we continue to chronicle the pulse of Web3 innovation.

The post Blocks & Headlines: Today in Blockchain – May 9, 2025 appeared first on News, Events, Advertising Options.

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Bitget Blockchain4Youth sostiene l’innovazione del Web3 e dell’IA all’hackathon “Build with AI” di Google Developer Group

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Bitget, società Web3 e uno dei principali exchange di criptovalute, ha ottenuto un riscontro significativo in occasione del recente hackathon “Build with AI”, tenutosi dal 2 al 5 maggio 2025 presso la Constructor University. Spingendosi oltre la semplice sponsorizzazione, l’iniziativa Blockchain4Youth di Bitget ha coinvolto attivamente più di 130 studenti di talento.

L’evento, organizzato dai Google Developer Groups (GDG) on Campus, ha offerto a Bitget uno spazio dinamico per entrare in contatto diretto con gli innovatori tecnologici di nuova generazione. Nel corso di una presentazione dedicata, è stato introdotto il programma Blockchain4Youth Builder, che mostra l’impegno di Bitget nel formare giovani talenti all’interno dello spazio del Web3. Questa partecipazione evidenzia l’approccio lungimirante di Bitget nell’integrare la formazione in materia di blockchain con i settori emergenti come l’IA, riconoscendo il loro potenziale combinato.

Gli studenti hanno lavorato alla creazione di modelli basati sull’IA e di prodotti in fase iniziale utilizzando gli strumenti avanzati di Google, mentre la presenza di Bitget ha offerto una prospettiva unica su come la blockchain possa migliorare ed essere integrata nelle soluzioni di IA. Questa interazione con il mondo reale ha fornito preziose indicazioni agli studenti, colmando il gap tra conoscenze teoriche e applicazione pratica all’interno del panorama tecnologico in rapida evoluzione.

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“La formazione rimane un principio fondamentale della nostra missione e, attraverso iniziative come Blockchain4Youth, intendiamo fornire alle nuove generazioni le competenze necessarie non solo per esplorare, ma anche per plasmare attivamente questo settore dinamico”, ha commentato Vugar Usi Zade, COO di Bitget. “Collaborare con comunità come il Google Developer Group offre una base preziosa per connettersi con talenti di spicco e aiutarli nel percorso di utilizzo della blockchain per creare soluzioni di impatto. Blockchain4Youth continuerà a espandere la sua portata, favorendo la crescita dei futuri leader del Web3 in grado di cogliere le numerose opportunità offerte da questa tecnologia”.

Il coinvolgimento mostrato all’hackathon “Build with AI” di GDG è un elemento chiave del più ampio programma Blockchain4Youth di Bitget, l’iniziativa aziendale dedicata alla Responsabilità Sociale d’Impresa (RSI). Questo programma mira a favorire la prossima generazione di leader Web3 attraverso opportunità formative ed esperienze pratiche.

Tra le iniziative più recenti del programma Blockchain4Youth c’è il lancio del Graduate Program di Bitget, concepito per reclutare i migliori laureati nel settore blockchain e Web3. Inoltre, l’espansione del programma Bitget Builders continua a fornire agli individui più promettenti del Web3 un’esperienza diretta attraverso gli eventi offline, i programmi formativi e la crescita strategica della community.

A proposito di Bitget

Fondata nel 2018, Bitget è una società Web3 tra i principali exchange di criptovalute al mondo. Con oltre 100 milioni di utenti in più di 150 Paesi e aree geografiche, l’exchange Bitget si impegna ad aiutare gli utenti a fare trading in modo più smart con la sua pionieristica funzione di copy trading e altre soluzioni di trading.

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India’s Fintech Market to Reach $990 Billion by 2032 at 30.2% CAGR – Fintech Firms Eye Untapped Indian Digital Payments Market with Secure, Low-Cost Digital Financial Solutions

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