Contactless Payments Will Grow by 100% in 2015 According to Juniper Research

September 8, 2015  written by Mike Dautner.. Paymentweek.com

There is an undeniable spike in contactless payments due to the growing popularity of Apple Pay among shoppers.

According to new data from Juniper Research, there is a direct correlation between the rise in contactless payments, and the push of Apple’s mobile payments platform, Apple Pay.
The convenience of mobile payments is obvious, so it comes as no surprise that Apple customers are flocking to stores and utilizing the tool. It allows shoppers to make quick and easy payments with their mobile device without having a credit or debit card present.

According to Apple’s CEO Tim Cook, approximately 1.5 million locations in the U.S. will be capable of accepting Apple Pay by the end of 2015.

Juniper Research revealed that the number of mobile wallets using contactless tech is slated to rise to 200 million by the end of 2016, which would be up 100% from the end of 2014.
This report also brings to light the shortcomings of weakness of rival contactless payments technologies, for example Merchant Customer Exchange (MCX), another mobile payments platform that is helmed by a group of merchants including CVS, Best Buy, and Walmart.
Better known as CurrentC, the MCX technology gives retailers insight regarding customer data from every transaction—however, major delays and security flaws have plagued the rollout of Apple’s competitors thus far.