A growth opportunity for the payment market

Millions of people today around the world are using smart cards for debit and credit payments. Increasing card usage and providing innovative services for cardholders is a constant objective for financial institutions. Catching a share of the cash market, the largest in terms of number of transactions, is one of their major goals.
 

The battle for cash transactions

Contactless payment applications are now a real new trend to address low-value payments where speed and convenience are key factors of the user’s experience: fast food chains, movie theaters, vending machines, stadiums, etc: These are spending domains where cash dominated historically.

Contactless technology in the payment market helps issuers to differentiate their portfolio taking advantage of the following two benefits:

• Higher revenue - transaction frequency increased by 33 to 52% per account and overall spending increased by 28 to 42% per account*
   
• High reliability - reduced risk of mechanical breakdown and limited opportunities for possible acts of vandalism

Merchants also benefit from the improved operational efficiency provided by contactless technology: no more cash-handling, increased check-out speed and throughput. Card holders throughout the world have begun enjoying the convenience and security of their contactless payment transactions.

The right partner for your contactless payment program

In the fast growing US market, Gemalto has supplied more than 10 million cards and is recognized for the high technology expertise and high level of support it brings to the major US Banks for their contactless magstripe programs.

In the promising EMV-contactless market, Gemalto has already delivered over 3 million EMV contactless cards during the first Asian deployments. Being the first dual-interface offer certified both by Visa and MasterCard, Gemalto’s highly reliable products have been massively adopted in Taiwan, Korea and Malaysia.

With these field proven products, Gemalto is now strongly involved in the main pilots and initial roll-outs in Europe. In this emerging European market, the complex contactless technology combines with local security and interoperability constraints which leads banks to partner with reactive experts such as Gemalto who have the ability to adapt.

Card holders have begun enjoying the convenience and security of their contactless payment transactions.

Contactless Key Fobs, new smart devices for Contactless payments

Contact Info
Please contact your usual Gemalto Sales representative for further details and product availability.