Payments News
nbsp;

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

nbsp; nbsp;

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.”
nbsp;

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 […]
nbsp;

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 […]
nbsp;

Reports

Mobile Contactless Payments Will Account for Less Than 2% of US Retail Sales This Year

“The push for mobile contactless payment adoption in the US has been a decade-long journey entailing a multibillion-dollar investment in wallet development, POS hardware and consumer marketing. To date, the results have been underwhelming, with payment methods like Apple Pay and Google Pay forecasted to account for just 1.6% ($78.6bn) of US brick-and-mortar retail sales […]
nbsp;

On The Wires

nbsp; nbsp; nbsp;

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.