The Evolution of Charge Cards: Contactless Technology Takes the Lead
We write a lot about the coming changes to “charge cards” as we’ve known them, for a couple generations. Changes driven both by technology, and the vulnerabilities of that technology with payment as well Contactless Cards payment technology.
The Shift to EMV Cards and the Push for Enhanced Security
For instance, you, as a regular reader of these posts, understand that retailers are rapidly adopting EMV cards, especially given the urgency created by significant data breaches at major stores like Target and Neiman-Marcus.
The Rise of “Contactless” Charging
Another type, or way, to say “charge it” is also growing fast. We’ve touched on it before here, but lately it’s back in the news as roll-outs and usage climbs — especially in the EU, and UK.
Staggering Growth in the UK and EU Markets
According to Visa Europe, in 2013 “cardholders used their contactless cards to make more than 94.3 million purchases in the UK, simply by tapping their cards on available readers, a number that’s up more than three-fold from the year before.
Moreover, the article highlights how larger retailers, recognizable to U.S. consumers like McDonald’s and Starbucks, are propelling the adoption of contactless payments, particularly in leading EU markets such as the Czech Republic, Poland, Slovakia, and Spain.
Introduction to U.S. Consumers Through Transit Systems
Although U.S. stores have yet to embrace this shift, American transit riders are already encountering the technology in systems such as L.A.’s Metro and Chicago’s emerging setup. For instance, in L.A., riders simply swipe their specialized Metro cards past a reader to pay their fare, illustrating increasing familiarity and integration of this technology in daily life.
The Future of Contactless Charging: Beyond Traditional Cards
The idea is that eventually such systems would work with “regular”-style credit cards, for small purchases. In fact, as the idea of “contactless” charging gains traction, by the time the practice is widespread here, it may not involve “cards” at all: Juniper research thinks that an even broader form of “contactless” charging, involving cell phones and hand devices will reach a staggering 10 billion by 2018.
Preparing for the Imminent Changes
You can read more about their prognostications at the link, but suffice it to say that the changes, and the challenges will be coming rapidly for the foreseeable future.
Journey Into the Future with AVPS
Envisioning the future, AVPS seeks to guide you through these advancements. Therefore, reach out to your Rep today to ensure seamless transitions from traditional methods like paper checks and ACH to modern platforms, including eCommerce, and more.
Embrace the New Era of Payment Technology
Tomorrowland is already here. Come visit it with us.
