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In the first major deployment of contactless technology on bus services outside London, Stagecoach has announced plans to bring tap-and-go payments t 
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Olympic and Paralympic Games sponsor Visa is handing out NFC-enabled rings to favoured athletes competing in Rio this summer, enabling them to mak
Vineet Anand's insight:
Visa is adding 4000 NFC terminals across RIO avenues to facilitate contactless payments. 45 athletes (wonder why so small a number) will be provided rings with NFC chips... having applied NFC to cufflinks, bracelets, straps, gloves, and now rings will assess customer affinity to such products. Apple and other Watches with NFC have seen limited traction for contactless in US - its a journey for contactless.
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Finextra: Spending on contactless cards in the UK has hit a record £1 billion in a single month for the first time.
Vineet Anand's insight:
Contactless payments continues to show tremendous growth in UK: - £1 billion spend in Nov 2015 vs. £287 million in Jan 2015 - contactless is no 10% of all card transactions - 1 in 5 journeys on transport network of London are contactless - TfL tube journeys on contactless are 1 million a day The recent raising of the contactless limit per transactions will spur greater growth.
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Finextra: Spectacular growth in the volume and value of contactless payments across the European Union during 2014 has set the scene for a mass-market breakthrough over the coming years as new mandates by Visa and MasterCard accelerate the roll out of new cards and terminals across the region.
Vineet Anand's insight:
New mandates from Visa and MasterCard to drive usage and issuance of contactless cards. MasterCard and Visa have both mandated that new terminals should be capable of accepting contactless transactions by the beginning of 2016 and all existing terminals should be converted by the beginning of 2020.
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Finextra: Apple and Google may have boosted awareness of mobile payments in North America over the last year, but actual usage has remained flat, according to a survey from Accenture.
Vineet Anand's insight:
Accenture survey of 4000 mobile users affirms other research for mobile payments in NA:
Merchant acceptance across with NFC devices is another factor for slow adoption. EMV / NFC terminals are across only 40% of merchants today in a market of ~23 million merchant terminals. UK will steer ahead of US market with its 400k merchants with contactless terminals and nearly 3 in 5 cards are used for contactless transactions. Wearables will see a faster adoption in UK vs. US driven by consumer high use of contactless cards already.
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Finextra: Contactless is the new normal in Europe, with more than a billion tap-and-go purchases worth EUR12.6 billion on Visa cards in the last 12 months.
Vineet Anand's insight:
131 million Visa contactless cards in Europe that generated EUR 12.6billion with more than a billion transactions. UK leading the way of issued cards and terminals. Apple Pay, Android Pay and Samsung Pay will drive greater usage via mobile and wearables!
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Finextra: The Paris-based Curie Institute is enlisting the power of contactless payments, letting people tap their card or phone to donate to its Daffodil for Curie cancer research campaign.
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Finextra: As it seeks to keep pace with a market shifting to EMV and NFC, Square has acquired Canadian payments specialist Kili Technology. Financial terms of the deal were not disclosed.
Vineet Anand's insight:
Square strategic focus on SMB businesses is evident across POS, Lending, Analytics and now acquisition of Kili for NFC and Chip+PIN technology.
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Samsung won't be charging anyone for Samsung Pay when it rolls out the mobile payment service in Korea -- not card issuing banks and not payment processors,
Vineet Anand's insight:
Samsung Pay will acquire adoption with Issuers, Processors, and Merchants to drive acceptance. The success will be determined by having a good consumer base that actively uses Samsung Pay - a number closely linked to number of Loop Pay enabled Samsung devices sold! I doubt Samsung Pay have built a better mouse trap than Google Wallet, however with Google Wallet and Samsung Pay, Android users will have mobile payments in their hands across a subset of Andriod smartphones. These Android driven mobile payments will give a boost to mobile ecosystem creating greater consumer awareness and potentially driving greater merchants to consider NFC based transaction acceptance at POS! More NFC terminals - greater Apple Pay and Android based mobile payments.
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MasterCard is betting that a surge in the use of contactless cards across Europe will act as a gateway for the mass adoption of mobile phone payments.
Vineet Anand's insight:
Contactless terminals in 2012 was 2.6million, which has grown to 9 million end-2014. Research estimates 70% of terminals will be NFC ready by 2019!
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Curated by Vineet Anand
Payment Industry leader passionate about Fintech, Innovation in Banking, Product Management & Strategy, driving revenue growth through client management, business development and P&L focus.
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76 million cards in UK now contactless, growth of 40% over next year. Contactless is enabled at London's 9,600 buses and with Stagecoach moving towards contactless with mobile NFC acceptance to fuel further growth.