Security fears ‘putting people off’ contactless mobile payments
Nearly half of smartphone users do not want to use their device to make contactless payments, mostly over fears about security, according to a survey.
contactless payments
Card use extending to smaller purchases as contactless catches on
Growth in the volume of debit and credit card purchases in the UK continues to outstrip the growth in value as consumers use their cards more frequently for lower value payments. A threefold increase in contactless payments was a factor in the trend.
Making contact … eventually
Despite security concerns, contactless payments technology continues to be rolled out globally. Visa International recently estimated that the volumes of contactless transactions it will process during 2013 will quadruple. MasterCard’s figures show that since 2012 there has been a 50% increase in the number of contactless cards it has issued.
