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August 14, 2006 9:35 AM

Contactless Payments


Yes, no-touch credit card is fancy, but I doubt it will be prevalent very soon. After all, it does not offer major incremental benefits, and but will nevertheless require major infrastructure investments at retailers.


From Card Web:

New research has found that more than 100 million Americans would use contactless cards to pay for small ticket everyday items. The survey by Ipsos Insight and Peppercoin reveals that more than 50% of respondents would use contactless cards to buy gasoline, items from fast food restaurants or corporate cafeterias, or groceries. More than 40% would use contactless cards to pay for convenience store items and transit fares and nearly 40% would use contactless cards to buy coffee or pay for parking. The poll also determined that high income consumers ($50K+) are more likely to use contactless cards. Additionally, depending on the specific market, between 13% and 22% of respondents indicated security concerns would keep them from using contactless cards.







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