In the current environment there has been significant growth in adoption of contactless payments, both globally and in India. The global contactless payments market size was valued at USD 8.3 Billion in 2019, and is projected to reach USD 19.3 Billion by 2026, registering a CAGR of 12.8% from 2020 to 2026. Consumers are aware that contactless technology and digital payments can ease some of the tension by reducing a measure of daily risk when we pay. This technology also empowers some of the most financially vulnerable with a safe and secure way to make and receive payments.
Hereby enclosing, platforms that are redefining the contactless payment space:
- DigitSecure: DigitSecure is a fintech, payment services provider, that displaces PoS terminals with a mobile application for accepting touchless payments – contactless and QR — safely and securely. The PCI Certifed device- and OS-agnostic solution, offered as SoftPoS Platform as a Service, makes touchless payments acceptance simple and affordable for millions of SMEs in India and across the globe. Its USP lies in being a low-cost, fast, and efficient app-based payment solution and in its ability to rapidly onboard merchants for accepting touchless payments. With a mission to accelerate the acceptance of touchless payments by making it simple and affordable, Jaya Krishna Gullapalli founded DigitSecure India Pvt. Ltd. in September 2007, in Hyderabad. Today, the platform addresses the need for an affordable payment solution that meets Indian regulatory requirements while facilitating the growing preference for touchless transactions across the globe.
- SoftSpace: Founded in 2012, Soft Space is a leading FinTech player in the ASEAN region headquartered in Kuala Lumpur, Malaysia. With over 20 financial institutions in 10 countries adopting its solution, the company is now gravitating towards expanding into omnichannel payments that include the adoption of artificial intelligence, QR code payments, E-wallet systems and money lending schemes. It focuses on revolutionizing and developing innovative solutions for the banking and payment industry
- SmartPesa: SmartPesa is a specialized payments and agency banking technology solutions provider. Easily accept card present and e-Commerce transactions. SmartPesa supports all types of cards, including locally issued cards and international card schemes such as Visa, Mastercard, and China UnionPay. Fully extendable to Wallets such as Android Pay, Apple Pay and Samsung Pay; and technologies such as AliPay, WeChat Pay, QR codes, and biometrics. Fully white-labelled mobile application to quickly start accepting card payments. Intuitive with seamless Bluetooth pairing gets any merchant up-and-running in seconds.
- PayCore: Since 2001, PayCore provides innovative end-to-end payment solutions for financial institutions, processors, telecom operators, personalization bureaus, retailers, terminal/card vendors, and last but not least public transportation authorities to more than 185 customers in 35 countries across the globe. It enable banks, processors, telecom operators and retailers for smooth implementation of digital payments in accordance with international payment standards. The solution supports in-app payments to enable payment transactions for e-commerce and m-commerce retailers as well as in the physical merchants like gas stations and transportation operators.