Proof Point

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OEM contactless payment app users worldwide forecasted by Juniper Research to increase 107% annually from 2015, to reach 760 million in 2020

OEM Contactless Payment App Users Worldwide
2017 – 2020E (million users)

Proof Point Findings:
  • OEM (Original Equipment Manufacturer) Contactless Payment App – Pre-installed apps in device (i.e. Apple Pay, Samsung Pay, Android Pay) allowing users to perform payment using wireless technology, without physical interaction
  • Massive Future Growth – OEM contactless payment app users worldwide expected by Juniper Research to grow 107% yearly from 20 million in 2015 to 760 million in 2020
  • 2020 Pay Share – Study also expects Apple Pay, Samsung Pay and Google Pay to reach 450 million users or 60% of total OEM users in 2020, with smaller share coming from other companies (e.g. Huawei Pay, Xiaomi Pay, Fitbit Pay, Garmin Pay), as well as banks deploying HCE-wallet services
  • Key Growth Drivers – Include growing consumer adoption of cashless payment methods, greater consumer spending, and rapid growth in number of merchants accepting contactless payments
Market Disruption: New Payment Technologies
Source: 

Date Last Updated: December 5, 2018

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