Visa Inc. has been talking up contactless payments lately, though its executives and spokespersons usually dole out percentages rather than hard numbers to describe what is still a minuscule market in terms of card numbers and transaction volume. But chief executive Alfred F. Kelly gave an eyebrow-raising statistic Wednesday regarding a predicted boom in contactless…
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Subscribe to our podcast: The following is a transcript of the podcast episode hosted by Ryan McEndarfer, Editor-in-chief at PaymentsJournal.com Dr. Kathy, what are you seeing in regard to overall debit usage among credit union members? And why should credit unions be focused on improving debit card issuance and usage? Kathy Snider, Senior Vice President…
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In recent years, much of the focus for instant issuance solutions of payment cards shifted from educating credit unions on its benefits to helping enhancing its on-demand convenience for members. Instant issuance for new starts and reissues gives members reasons to visit credit unions, which can then deliver securely-activated payment cards directly to them. The question becomes…
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Contactless payment card issuance is set to hit 1.5 billion units in 2018, accounting for over 50% of all payment card shipments delivered globally, according to ABI Research, a market-foresight advisory firm providing strategic guidance on the most compelling transformative technologies. Breaking the 50% barrier marks a significant milestone in contactless card migration, where market…
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Fresh data indicates that most debit card transactions on mobile wallets—77%—are on Apple Pay. Coming from New York City-based Auriemma Consulting Group, which canvassed debit card issuers, the data also found that Samsung Pay and Google Pay accounted for 17% and 6% of transactions. Auriemma suggests one reason for the Apple Pay preference is it…
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It’s no secret contactless payments have struggled in the United States, but less discussed is what needs to be done to boost usage. A paucity of dual-interface cards—EMV plastic that can either be inserted into terminals or tapped on them—is much to blame, but it turns out the answer goes well beyond that gap. It…
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