Contactless Transaction Value Projected to Hit $32 Trillion by 2031

A series of new research reports from Juniper Research has found that the total value of global payments conducted via digital ticketing, QR codes, and near-field communication (NFC) will reach $32.2 trillion by 2031. This represents an 86% increase from the $17.3 trillion in transaction value anticipated for 2026.

According to the data, digital ticketing is expected to see the most significant growth in transaction value, rising by 126.7%. Contactless payments are projected to increase by 90.2%, while QR code-based payments are forecast to grow by 66.7%. Ticketing is currently seeing the most rapid acceleration as digital-first methods become the standard for both new and existing systems, particularly in segments like air travel, large-scale events, and public transportation networks.

The research suggests that digital ticketing serves as a critical precursor to broader innovations, most notably agentic commerce. Juniper Research anticipates that ticketing will be among the first consumer-facing journeys to be fundamentally reshaped by AI agents, making the modernization of underlying payment infrastructure an urgent priority for the industry.

The reports also emphasize the influence of Software Point of Sale (SoftPOS) technology in driving the growth of contactless payments. SoftPOS allows standard smartphones to function as payment terminals, eliminating the need for small businesses to invest in expensive dedicated hardware. This makes contactless card payments more competitive against QR codes for micro-merchants and sole traders, fundamentally changing the dynamics of cash displacement for smaller daily transactions.

“SoftPOS is changing the scenario for how small businesses and sole traders accept payments, accelerating the displacement of cash. Contactless payments will not replace QR codes – both solutions will succeed in different countries and verticals. As ever, getting payment methods right will be a highly contextual decision,” commented Nick Maynard, VP of Research at Juniper Research.