RFID Contactless Payments

Transitioning to Open Contactless Payment Systems

Limited trials and initial deployments of contactless payment technology have already shown much of its potential for the key players in the transaction value chain. Contactless can bring benefits to card associations as they increase the reach of their products, to card issuers aiming to differentiate their products and services, to merchants who can speed up transaction times and transaction values, and to card holders and customers who no longer need cash on hand and can speed less time waiting to pay for goods. Despite these potential benefits, moving the capabilities of open system contactless payments into the mainstream depends on a buy-in from all parties. Given the regional, and often national, differences in existing payment systems, contactless’s adoption across borders is likely to be uneven for some time.

This study sets out the environment in which contactless payments are being accessed around the world, and the technical and business challenges that have to be faced in the wider adoption of the technology. It explains how, why, and where contactless payments will be adopted around the world.

What Questions Does This Report Answer?

  • What market trends drive contactless payment adoption across retail environments?
  • How does contactless payment impact card associations, issuers, merchants and consumers?
  • How large is the contactless payment market opportunity?
  • How do contactless payments change the transaction value chain?
  • How do merchant environments and use case scenarios influence contactless deployment and investment?
  • How will existing contactless payment networks such as transportation ticketing transition to new open contactless payment models?
  • What business opportunities do contactless payment applications address?
  • What is driving contactless payment investment within national and regional markets?
  • What companies are committing to contactless payments and how are they positioned to benefit from acceptance of the technology?
  • Will contactless payment readers help provide key infrastructure to drive NFC acceptance?

Who Needs This Report?

  • Low/fast transaction merchants
  • Card associations
  • Card issuers
  • Contactless payments vendor
  • IC vendors
  • Payments software vendors
  • Card manufacturers