In the News

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Debunking 6 contactless card adoption myths

When discussing contactless card adoption in the US, more often than not someone will raise one of six commonly held assumptions as barriers, including retailer acceptance, mobile wallets, and terminal compatibility. In this article, Jack Jania provides some sobering and objective information for each one of these six mythical barriers along the path to contactless cards.
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1 in 3 payments in the UK now made on contactless cards

In the US context that headline might be surprising. But in the UK, where EMV was old news by the time Americans were dealing with the liability shift, contactless payments are experiencing a surge in usage. Over the last year use contactless cards grew by 140%, and in June of 2017 one-third of all card payments were contactless. The data also showed that contactless cards are most often used to make smaller purchases.
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Visa Offers Incentives for Contactless Upgrades

Visa Inc. is offering to pay for upgrades to merchants’ technology at the checkout line so that they can accept contactless payments. Up to 50 merchants can receive $10,000 apiece to upgrade their payment technology, and in return, they must stop accepting cash. Consumers at those stores would be able to pay for goods or services only with debit or credit cards or with their cellphones.
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New deadline for EMV migration at the pump

Gas station owners in the US got an EMV migration extension from Visa and MasterCard late last year. What can fuel companies learn from the retail point-of-sale experience, and what should they to take full advantage of the extension?
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Contactless cards hold strong in face of mobile wallets

New concrete stats published from Australia, one of the most mature contactless markets. While about one third of all point of sale transactions are contactless, mobile wallet payments account for less than 1% of all consumer transactions.
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China’s embrace of contactless cards is a game changer

EMV chip-enabled card shipments reached 2.2 billion last year, and in most major markets, more than half of those support contactless payment with Near Field Communication technology built into the card. While the US lags behind the rest of the world in contactless card issuance, it may see its mix of contact and contactless cards change over the next year with the gradual rise of mobile wallets, according to the Smart Payment Association.
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