During 2015 over 1 billion contactless cards have been delivered in 77 countries around the world.
Consumers all around the globe are discovering how easy, quick and convenient it can be to use contactless cards, as well as mobiles and wristbands for everyday transactions in many different situations.
Why banks should go contactless
For banks, the two most powerful drivers to go contactless is market positioning and finding new sources of revenue. By offering the latest in payment experiences with value-added services, you can strengthen your competitive differentiation and build brand awareness. Contactless enables banks to capitalize on previously untapped cash markets – and on the trend that both the number of transactions and the total amount spent increases when customers use contactless cards.
What are the benefits for consumers & merchants
A contactless transaction can be up to twice as fast as a traditional credit card transaction and drastically faster than using cash – reduced queues and less hassle for both consumers and merchants.
Contactless means value for all stakeholders: issuing banks, merchants and consumers. That is why the contactless wave is gaining momentum. Opportunities abound with new exciting wearable payment devices like rings and watches, new applications for instance in transport and major events, and new markets from the unbanked to millennials and previously cash-only segments.
Learn more about how contact technology works and get in touch to find out how Gemalto can help you