|
Contactless Payment White Paper |
|
|
|
Contactless Payment Represents a Growing Market
The latest trend in retail payment applications is contactless payment. Contactless payment systems are used successfully in Asia, Europe and North America and offer a number of advantages to issuers, retailers, and consumers. Contactless payment allows issuers to penetrate the cash payment market, enjoy increased customer transaction volume, and improve customer retention and loyalty. Retailers realize benefits due to faster transaction times, increased revenue, improved operational efficiency, and lower operating costs. Consumers enjoy the convenience of hands-free payment, the ability to pay for multiple services using one device, and the security of not having to display a card for payment.
Contactless payment applications are particularly attractive to retail segments where speed and convenience of payment are essential (for example, quick service restaurants, gas stations, convenience stores, parking facilities, transit services, entertainment venues and unstaffed vending locations).
http://www.smartcardalliance.org/alliance_activities/contactless_payment_white_paper.cfm |
