The global contactless payment market is estimated to surpass $19 billion in 2025 and is estimated to grow at a CAGR of more than 15.0% during the forecast period (2019-2025). Contactless payment is a method for a user to purchase products through debit, credit or smartcards, smartphones or any other smart devices such as smart watches and fitness band by using radio-frequency identification (RFID) technology or near-field communication (NFC).