Contactless

• Global transaction volumes for contactless payments made using a mobile device will increase by 92% from 26bn in 2021 to 49bn in 2023. NFCW
• Contactless payments made using mobile phones will almost double over the next two years - twice as fast as the growth of contactless card payments. NY Press News
• Customers of the Jordan Kuwait Bank will soon be able to make contactless payments with a biometric bank card that enables them to authenticate transactions with their fingerprint. NFCW
• Vulnerabilities in Apple Pay and Visa could enable hackers to bypass an iPhone's Apple Pay lock screen and perform contactless payments. Eurasia Review
• Apple Pay will be the first payment processing system that enables businesses to easily implement contactless payments. Inc.
• Contactless Payment Card Hack Affects Apple Pay, Visa Researchers have demonstrated how fraudsters could steal money from iPhone owners who use Apple Pay and Visa via a contactless hack. National Cyber Security News Today
• Egypt's central bank has approved the issue of licences that will enable merchants to accept contactless payments from their customers through mobile phones. Electronic Payments International
• Half of Transactions to be Contactless by 2022 >> > The use of contactless payments is set to make up 47% of all UK payments between 2021-2022 and will be the most common type of transaction. Promoting Business
• Users can add a credit or debit card to their Google Pay app, which will enable their card for contactless purchases. Fintech Singapore
• The percentage of consumers expecting retail stores to accept contactless payments ranges from 54% in the USA to 69% in Germany, 74% in Russia, 75% in Canada and 82% in Ireland. NFCW
• Contactless spending is expected to account for almost half of all transactions by the end of 2022 (47%), as it becomes the most popular payment method for the first time. CBRE
• Global contactless card transaction values will reach USD 2.5 trillion in 2021, from USD 1.7 trillion in 2020, with cards retaining the majority share of overall contactless transaction values at 79% in 2021. Research
• Disruption in payments continues at pace-turbocharged by the increase in e-commerce and heightened demand for contactless solutions brought on by the global pandemic. Global Finance Magazine
• Visa expects contactless payments to replace cash and become the preferred payment method for businesses and consumers, with consumers prioritising health and safety. Digital News Asia
• The impressive growth is set to continue in the following years, with the total value of contactless transactions doubling up and reaching over $1.6trn by 2024. InternetRetailing
• Contactless spending is expected to account for 47% of all UK transactions by the end of 2022, as it becomes the most popular payment method for the first time. Retail Technology Innovation Hub
• The use of contactless payments is set to make up 47% of all UK payments between 2021-2022, and will be the most common type of transaction. CBRE
• The number of open-loop EMV contactless cards used to make transit ticketing payments worldwide will increase from 24.8m currently to 136.9m by 2025. NFCW
• Many people switched to using contactless card payments, a trend that was already well underway before Covid, prompting experts to predict Britain may soon become a cashless society. CityAM
• The global contactless card transaction values will reach $2.5 trillion in 2021, from $1.7 trillion in 2020, with cards retaining the majority share of overall contactless transaction values at 79% in 2021. Crowdfund Insider

Last updated: 17 October 2021