This Report describes the evolution and operation of contactless payment methods used at POS, with particular reference to the solutions offered under the American Express–MasterCard–Visa Agreement. The Report discusses the benefits contactless payments can bring to all market participants, including card issuers and merchants. Much space has been devoted to describing the current position of particular systems functioning in various countries and to the implementation of the most important pilot schemes. The Polish market is an excellent example of a successful strategy of accelerating contactless payments development through joint investment in a fast expansion of terminal network and mass issuance of cards. The Report also describes the prospects for the development of contactless payments all over the world, including the potential to develop into NFC-based mobile payments. The Report is based on the opinions of experts and business practitioners as well as on a range of data obtained from the most important contactless payments market participants and international consulting firms.
Key findings: In the nearest years the replacement of a considerable number of cash transactions with contactless payments at POS, in public transport, or anywhere fast service is required, can become a fact in the most of developed countries. However, mass popularisation of electronic payments requires time to deal with customers’ habits and their deep conviction about the advantages of cash as an anonymous and a commonly accepted method of payment. Benefits from contactless payments can accelerate the development of whole cashless turnover in retail transactions all over the world.
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MasterCard Europe, Visa Europe, Bank Zachodni WBK SA, PKO Bank Polski SA, Inteligo, Polbank EFG, Gemalto, Fenbrook Consulting, Żabka Polska SA, NOKIA, mBank, Forrester Research.
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