RegardingID Archive | Interest in contactless payments growing

Wednesday, April 9, 2008

Financial institutions are interested in issuing contactless card, but obstacles remain, says Bruce Cundiff, an analyst who studies contactless cards at Javelin Strategy and Research in Pleasanton, Calif. Though he foresees a shift toward acceptance of such payments in the next four to five years, barriers remain, including lack of interest in the merchant population, he said.

Interest in contactless credit cards or mobile payments more than doubled from last year, with 12% of banks calling it the biggest untapped growth opportunity, up from 5% in 2007.

Azerbaijan excited for new contactless and mobile payments

MasterCard’s PayPass contactless payment feature may soon be presented to the Azerbaijan market of cashless payments.

According to a recent MasterCard study, 75% of the local residents said they would like to use contactless payment cards in supermarkets and 60% to pay public transport fare. When asked which devices, in addition to a plastic card, it would be convenient to make payments, 86% of respondents said they would like to use their mobile phone.

First Data brings contactless parking meters to Poland

First Data Corporation has partnered up with the Krakow Transportation and Infrastructure Authority and City Parking Group for the introduction of parking meters equipped with contactless payments functionality in the city of Krakow, Poland.

Albron inks deal to accept biometric and contactless payments

Albron, an independent caterer in the Netherlands, will offer biometric- and contactless-based payments in its restaurants thanks to a newly signed agreement with pan-European payment processor Equens.

ACG report to examine future of mobile wallet

Auriemma Consulting Group is set to launch a comprehensive consumer study on the future of the mobile wallet.

The study comprises an overview of the current state of the UK mobile wallet space and attempts to answer “What comes next?” after launch. To determine the next stage of the mobile wallet, the study examines the features and benefits consumers expect on mobile wallets, and potential ways to expand the mobile wallets’ capabilities.

OTI to deliver 30,000 NFC readers in the U.S.

On Track Innovations (OTI) has received an order for 30,000 of its NFC and contactless payment readers for deployment in the U.S.

OTI did not reveal who will receive the readers, but assured that the devices would be used to support the migration towards contactless payments and NFC in the U.S.

Denizbank joins Cep-T Cuzdan NFC payments platform

Denizbank, a private bank with 588 branches in Turkey, has joined Turkcell’s Cep-T Cuzdan platform, enabling its customers to make contactless payments with their NFC-enabled handsets.

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Interest in contactless payments growing