How is contactless payment technology transforming the world?

Nearly a quarter of contactless payment global revenue stems from transportation businesses, and another 15% comes from hospitality. The mutual benefits of contactless payment technology are transforming the future of transactions, not just for customers but for merchants and financial institutions alike.

Are smartphones the future of contactless payment technology?

This difference means smartphones hold a lot of potentials when it comes to playing in this space. With the rise of smartphones and mobile devices, there is a lot more opportunity for unexpected use-cases of contactless payment technology.

When did contactless payments come out?

Contactless payments, also known as Tap to Pay, arrived in the U.S. in 2014 with the launch of mobile wallets, however adoption remained nascent until 2018 when Visa financial institutions began issuing contactless cards in earnest.