rcFebruary 5, 2021 Contactless Payment Transaction Market Contactless Payment Transaction Market is projected to reach a revised rate of $555.4 Billion, growing at a CAGR of +49% over the analysis period 2021-28. Contactless payment systems are credit cards and debit cards, key fobs, smart cards, or other devices, including smartphones and other mobile devices. Contactless payment allows consumers to pay for goods and services using their debit or credit cards with RFID technology also known as chip cards or other payment devices without the need to swipe, enter a personal identification number (PIN), and/or sign for a transaction. Android Pay is Google’s mobile wallet technology and one of the more popular NFC mobile payment apps. It is available on all NFC-enabled devices that run Android version 4.4 or later.