North America Dual Interface Payment Card Market Size, Share & Industry Trends Analysis Report By Type (Plastic and Metal), By End Use (Retail, Transportation, Healthcare, Hospitality, and Others), By Country and Growth Forecast, 2022 - 2028

The North America Dual Interface Payment Card Market is expected to witness market growth of 16.2% CAGR during the forecast period (2022-2028).

The form factor of the customer's contactless payment device might range from cards to wearables to smart phones with Near Field Communication (NFC) capabilities. For every transaction made using contactless technology, a special code is generated. Payments made with a contactless device are secure and safe and safeguard customers' private information.

The main distinction among a contactless payment and other frequently utilized ways is that a contactless payment device sends payment bank details to the merchant's POS terminal using RF technology, as opposed to the payment card's chip or magnetic stripe, which must be inserted or scanned. The consumer must take a conscious effort to expose the card or mobile device towards the POS reader in order to start the payment transaction because contactless payment devices only work at very close ranges (less than 1-2 inches).

As the United States transitions to EMV chip card payments, NFC technology is growing in popularity as a practical tool for consumer transactions. NFC is a standard that allows proximity-based communication among consumer electronics like mobile phones, personal computers, tablets, or wearable devices; it is not a payment system. A POS system that presently only accepts contactless payment cards can interact with a mobile device that has NFC capabilities. NFC-enabled devices that have been "loaded" with a mobile payment application could be used to make contactless payments, which are handled in the same way as both contact & contactless EMV chip card transactions.

The US market dominated the North America Dual Interface Payment Card Market by Country in 2021, and is expected to continue to be a dominant market till 2028; thereby, achieving a market value of $4,300.1 million by 2028. The Canada market is poised to grow at a CAGR of 18.8% during (2022 - 2028). Additionally, The Mexico market is expected to witness a CAGR of 17.8% during (2022 - 2028).

Based on Type, the market is segmented into Plastic and Metal. Based on End Use, the market is segmented into Retail, Transportation, Healthcare, Hospitality, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Thales Group S.A., IDEMIA SAS (Advent International, Inc.), CPI Card Group (Parallel49 Equity), Giesecke & Devrient GmbH, Watchdata Co., Ltd., Eastcompeace Technology Co., Ltd. (Potevio Group), Paragon Group Limited, Valid S.A., and Wuhan Tianyu Information Industry Co., Ltd.

Scope of the Study

Market Segments Covered in the Report:

By Type

• Plastic
• Metal

By End Use

• Retail
• Transportation
• Healthcare
• Hospitality
• Others

By Country

• US
• Canada
• Mexico
• Rest of North America

Key Market Players

List of Companies Profiled in the Report:

• Thales Group S.A.
• IDEMIA SAS (Advent International, Inc.)
• CPI Card Group (Parallel49 Equity)
• Giesecke & Devrient GmbH
• Watchdata Co., Ltd.
• Eastcompeace Technology Co., Ltd. (Potevio Group)
• Paragon Group Limited
• Valid S.A.
• Wuhan Tianyu Information Industry Co., Ltd.

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