Payments News
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Reports

Tap to pay is taking off

“Last year at Visa Payments Forum, Visa’s annual conference for customers and partners, a major discussion was the expansion of tap to pay in the United States. As this year’s event begins in Chicago, Visa is excited to share that tapping to pay is becoming a reality across the U.S. and continues to gain momentum […]

On The Web

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Tech

Boston Fed Reports on Contactless Card and NFC Payments Adoption Issues

“The authors say that confusion reigns among merchants, with some concerned about losing control of the payment experience when they activate contactless payments in their stores since contactless technology extends acceptance to all NFC mobile wallets by default. Consumers meanwhile are confused due to poor marketing and messaging around contactless and NFC mobile wallets.”
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Reports

Nearly a Third of All Card Transactions in the UK Are Contactless

“Contactless card transactions in the UK were nearly a third of all volume in January 2019 according to new data from UK Finance. Over the month, there were 642 million contactless card transactions in the UK. This is a 19.5% increase from the same time in 2018, a total of 537 million. Furthermore, the value […]
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Tech

Finnish Banks Double Contactless Transaction Limit to €50

“Customers in most Finnish banks can now use their bank cards to make contactless payments up to €50. The previous limit was €25. Banks that are introducing the new upper payment limit include OP, Nordea, Danske, S-Bank, Oma Säästöpankki, POP Bank, Handelsbanken and Savings Banks. Aktia and the Bank of Åland will introduce the new […]
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Tech

BofA Jumps on Tap-to-Pay Bandwagon as NYC’s Subway Moves Forward

“Bank of America Corp. is joining the wave of companies issuing tap-to-pay cards.    The lender will send 4 million contactless cards this month to customers in New York, Boston and San Francisco who have Visa debit or credit cards, according to Mark Monaco, enterprise payments executive at Bank of America. It plans to measure […]
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Global

As U.S. Contactless Card Payments Ramp Up, Canada and the U.K. Point the Way to Mass Adoption

“Canada’s largest merchant acquirer, Toronto-based Moneris Solutions Corp., says that in the first quarter contactless for the first time accounted for more than half of card-present transactions—51.5%. Contactless payments grew nearly 25% year-over-year while overall credit and debit card spending rose only 2.5%, Moneris reported. Meanwhile, nearly one-third of all credit and debit card transactions in […]
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On The Wires

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Tech

American Express Says to NYC Subway Riders: Don’t Tap and Pay Without It

To help foster adoption of contactless payments in the MTA and beyond, beginning in July, all newly issued and replacement U.S. American Express Consumer Cards will be contactless. The contactless feature is now available on all U.S. American Express Consumer Cards upon request through AmericanExpress.com, the Amex Mobile App, or by phone.