Contactless POS devices will phase out traditional ones by 2024: Report

The research found that the average value per contactless transaction will grow from under $19 in 2019

From 78 million in 2019, the installed base of contactless-enabled POS (point of sale) devices will exceed to 161 million by 2024, reveals a new study which also suggests that by that time, contactless POS devices would have practically phased out the traditional ones. 

According to Juniper Research’s POS Hardware: Payments Innovation, Vendor Analysis and Market Forecasts 2019-24 report, this growth will be largely driven by the deployment of contactless POS terminals in the US and the increasing use of contactless payments to replace traditional cash payments in emerging markets. 

The research found that the average value per contactless transaction will grow