Contactless payments stories

The Covid-19 pandemic has accelerated a global pivot towards a more digitized, connected retail ecosystem underpinned by sustainability, which cannot be underestimated.

Apple has launched Tap to Pay in Australia, empowering local businesses of any size to accept in-person contactless payments on iPhone. 

The ABT system uses innovative technology to provide a more seamless and equitable experience that caters to the needs of all riders.

The pace of innovation in meeting customer demand and the shifting economic environment presents a challenge when developing payment technologies.

Open Banking has matured into an innovative payments solution enabling merchants to drive conversion, reward loyalty and improve the customer experience.

The global near-field communication market was US$17,875 million in 2020 and will be US$46,781 million by 2027, registering a CAGR of 14.8% from 2021 to 2027.

According to a Kaspersky study, more than one in two SEA users say small businesses should be using digital payments.

Software technology company Synthesis lays out five ways COVID-19 has changed our behaviour and the payment solutions designed to meet the new criteria.

"2020 brought with it a rapid acceleration of digitisation and reinforced the importance of digital solutions – like contactless – to help meet our everyday needs."

Mastercard has launched its Cloud Tap on Phone payment technology, and the first live pilot of its Cloud Point of Sale acceptance technology.

The involuntary adoption of these technologies will have a long-lasting impact well beyond COVID-19, says SYSPRO Asia-Pacific chief executive officer Rob Stummer.

Merchant choice routing offers businesses the ability to override these defaults in the card and use the smarts in the terminal to process the transaction via the lowest cost network.

Australia is witnessing a sharp spike in the number of contactless payments during the COVID-19 pandemic, with the government advising consumers to avoid contact with POS terminals.

“The ability to send money to a contact and have them be able to use it right away presents a powerful tool for families and communities to support each other through the present hardship. 

PaymentsNZ says the change will be progressively rolled out ‘over the coming days’, but may take weeks in some cases due to the number of cards, payment terminals and businesses involved. 

New research from Bankwest shows that having the option to pay with wearable tech is becoming more appealing than ever.

ASB customers have until July 16 to make the switch, before ASB Virtual is closed down permanently.

ASB Bank has relented to the apparent seduction of Apple Pay and is now offering it to customers.

Ten years from now cash and ATMs as we know them could be extinct as the cashless economy becomes well entrenched in everyday life.

Visa has released a report showing that tourist spend in NZ is growing and they want to use contactless payment systems.

The study shows that for contactless merchants, growth in customer numbers (8.3%) was double that experienced by non-contactless merchants (3.5%).

Millennials continue to drive contactless payments, with almost 9 in 10 people aged 25 to 34 using contactless technology.

More than three-quarters (77%) of New Zealanders own a contactless capable card.

With Tap2App, micro-retailers and small business owners can accept card payments with their smartphones without a dongle or a portable card reader.