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Research and Markets: Contactless Cards - Tentative Steps - The Development that will Transform how Global Consumers Pay for Goods and Services.

DUBLIN -- Research and Markets (http://www.researchandmarkets.com/research/a4e573/contactless_cards) has announced the addition of the "Contactless Cards - Tentative Steps" report to their offering.

Proclaimed as the development that will transform how global consumers pay for goods and services, contactless payments are currently a hot financial topic. In this report, we investigate the extent to which different markets around the world have developed to date, and provide analysis and insight into how they will develop over the next two years.

Data rich and full of previously unpublished case studies from around the world, the report profiles both regionally-focused contactless schemes like Hong Kong's Octopus, and the global solutions provided by payments giants Visa and MasterCard. Retailer initiatives and the progress of new products are also profiled to provide the reader with a view of the development of contactless from a range of perspectives. The likelihood of the development of contactless payments using other devices, such as the mobile wallet, is also considered and developments in this area of the market are discussed.

The payments industry appears to be pushing the development of contactless payments, but the situation is very much chicken and egg'. Card issuers like Barclaycard and Bank of America are issuing the contactless-enabled cards regardless of the level of consumer demand for them, but outside of London, a very small number of merchant outlets accept them.

Key takeaways of this report include:

* Contactless cards are still in their infancy in most countries and they are likely to remain so for the next year

* Growth of this payment technology is being restricted by limited retailer acceptance and low consumer awareness and understanding, particularly in the UK

* Despite having been introduced to the US market for a number of years, contactless cards account for just 15% of the total payment cards in issuance

* Larger retailers, where the majority of retail spending takes place, are unlikely to be in any rush to make the required investment in updating their POS terminals due to the restrictions on contact and PIN-less transaction values

* The mobile phone will eventually become a payment device, but it will take longer than payment industry executives are predicting to reach anywhere near mass market proportions

* At present, contactless is being pushed by the card providers and retailers and, although card users like the technology when they use it, contactless users represent a tiny proportion of the payments market

Key Topics Covered:

Chapter 1: Introduction to contactless payments

Chapter 2: Worldwide contactless card schemes

Chapter 3: Contactless cards and payments in the US

Chapter 4: Contactless cards and payments in Europe

Chapter 5: Contactless cards and payments in Asia Pacific

Chapter 6: The future of contactless cards and payments

For more information visit http://www.researchandmarkets.com/research/a4e573/contactless_cards
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Publication:Business Wire
Date:Aug 3, 2011
Words:535
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