The convenience of contactless payments will be “greatly accelerated” over the next few years as mobile transactions become more commonplace, an expert says.
Gregor Rankin of secure transactions specialist Ingenico added that research carried out by the company indicates that many consumers already consider contactless payment as a viable alternative to cash.
Some 41% of those polled said they would use contactless payments, citing convenience, shorter queuing times and having to carry less cash or fewer plastic cards around as the main benefits.
Consumers were also in favor of raising the limit for contactless payments from 10 ($6.89) at present to an average of 35.10. Mobile handset users said the average contactless payment limit should be 32.10.
Rankin says the use of contactless payments could “increase dramatically” as more consumers become aware of their benefits and mobile technology advances.
“Handsets with near field communications aren’t widely available yet, but those are going to come on stream pretty heavily over the next couple of years,” says Rankin.
Ingenico designs and products secure transaction terminals for use in banks, retailers, hospitals and the mobile market.
D.C.