Juniper Research, a market research agency, released a market report on Monday, saying that this year's global non - contact payment will break through 1 trillion dollars, and it is predicted that two years later, in 2020, the global market for non - contact payment will reach $2, of which Apple's Apple Pay will take half of its mobile wallet. Market.
At present, the contactless payment market is still dominated by card payment, not mobile wallet. Smartphone manufacturers are expected to pay more than $300 billion in wallets by 2022, accounting for 15% of all contactless payments.
According to the report, the number of users of contactless payment services provided by mobile device manufacturers worldwide will increase to 450 million by 2020. These mobile payment solutions include Apple Pay, Samsung Pay, Google Pay and so on.
Apple's Apple Pay has the largest number of users in all mobile wallet schemes, with at least 16% of iPhone users enabling the payment. Apple Pay accounts for nearly 50% of global similar payments. It also means that a large number of users are using electronic wallet payment services provided by hardware vendors, not third-party applications. In the next five years, the growth of contactless payments will continue to be dominated by major mobile phone manufacturers.
In addition, there are emerging services such as Huawei Pay and Fitbit Pay, which have been included in this forecast. But analysts say these alternatives are unlikely to do much better in terms of market share over the next few years and pose no threat to mainstream vendors such as Apple.
Apple has launched Apple Pay mobile payment since 2014, and began supporting the mobile payment service since 2015 Apple Watch. Then Apple even launched a Web-based version of the Apple Pay, which the Touch Bar-equipped MacBook Pro could use without a matching device. Apple Pay is continuing to develop, for example, by introducing Apple Pay Cash transfer similar to PayPal, and iPhone X and future more devices can be paid with Face ID for Apple Pay.