Product Code: ETC4425924 | Publication Date: Jul 2023 | Updated Date: Feb 2025 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 85 | No. of Figures: 45 | No. of Tables: 26 | |
Contactless payment solutions in South Korea facilitate secure and convenient transactions via NFC-enabled cards, mobile wallets, and wearable devices. Market adoption is driven by digital payment preferences, contactless technology advancements, and merchant infrastructure expansion.
The growth of the South Korea Contactless Payment Market is influenced by the increasing adoption of digital payment solutions and the need for convenient and secure payment methods. Technological advancements in payment technologies and the trend towards cashless transactions drive market growth.
Driving adoption of NFC and mobile wallet technologies, ensuring transaction security and consumer trust, and addressing interoperability and regulatory compliance pose challenges in South Korea. Payment service providers must innovate in contactless payment solutions, support biometric authentication methods, and collaborate with financial institutions and retailers to accelerate cashless payment acceptance and digital wallet usage in retail, transportation, and hospitality sectors.
Government policies in South Korea concerning the contactless payment market prioritize financial technology, transaction security, and payment system efficiency. Policies regulate payment terminal standards, transaction limits, and data encryption protocols. Incentives encourage adoption of contactless payment technologies, development of mobile payment solutions, and compliance with electronic payment regulations.
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 South Korea Contactless Payment Market Overview |
3.1 South Korea Country Macro Economic Indicators |
3.2 South Korea Contactless Payment Market Revenues & Volume, 2021 & 2031F |
3.3 South Korea Contactless Payment Market - Industry Life Cycle |
3.4 South Korea Contactless Payment Market - Porter's Five Forces |
3.5 South Korea Contactless Payment Market Revenues & Volume Share, By Component , 2021 & 2031F |
3.6 South Korea Contactless Payment Market Revenues & Volume Share, By Vertical, 2021 & 2031F |
4 South Korea Contactless Payment Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 South Korea Contactless Payment Market Trends |
6 South Korea Contactless Payment Market, By Types |
6.1 South Korea Contactless Payment Market, By Component |
6.1.1 Overview and Analysis |
6.1.2 South Korea Contactless Payment Market Revenues & Volume, By Component , 2021-2031F |
6.1.3 South Korea Contactless Payment Market Revenues & Volume, By Hardware, 2021-2031F |
6.1.4 South Korea Contactless Payment Market Revenues & Volume, By Solutions, 2021-2031F |
6.1.5 South Korea Contactless Payment Market Revenues & Volume, By Services, 2021-2031F |
6.2 South Korea Contactless Payment Market, By Vertical |
6.2.1 Overview and Analysis |
6.2.2 South Korea Contactless Payment Market Revenues & Volume, By Retail, 2021-2031F |
6.2.3 South Korea Contactless Payment Market Revenues & Volume, By Hospitality, 2021-2031F |
6.2.4 South Korea Contactless Payment Market Revenues & Volume, By Healthcare, 2021-2031F |
6.2.5 South Korea Contactless Payment Market Revenues & Volume, By Energy and Utilities, 2021-2031F |
6.2.6 South Korea Contactless Payment Market Revenues & Volume, By Transportation and Logistics, 2021-2031F |
6.2.7 South Korea Contactless Payment Market Revenues & Volume, By BFSI, 2021-2031F |
7 South Korea Contactless Payment Market Import-Export Trade Statistics |
7.1 South Korea Contactless Payment Market Export to Major Countries |
7.2 South Korea Contactless Payment Market Imports from Major Countries |
8 South Korea Contactless Payment Market Key Performance Indicators |
9 South Korea Contactless Payment Market - Opportunity Assessment |
9.1 South Korea Contactless Payment Market Opportunity Assessment, By Component , 2021 & 2031F |
9.2 South Korea Contactless Payment Market Opportunity Assessment, By Vertical, 2021 & 2031F |
10 South Korea Contactless Payment Market - Competitive Landscape |
10.1 South Korea Contactless Payment Market Revenue Share, By Companies, 2024 |
10.2 South Korea Contactless Payment Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |