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Millennial, Gen Z shoppers lead contactless payment adoption

January 17, 2020

Retailers, including J.C. Penney, Target and Amazon, have been investing in contactless payments, with varying levels of success. Going contactless within five years may sound like a stretch to some, but a report from London-based research firm RBR predicts that global payments will grow to $45.2 trillion by 2023, in part thanks to the popularity of contactless payments.

Overall, consumers appear to favor innovation. A 2019 NRF report indicated that 80% of shoppers felt that technology and innovation had improved their online shopping experience; 66% said they felt the same about shopping in-store, which may bode well for contactless payments.

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