Contactless Smart Cards, RFID, Payment, Transit and Security

Philips and Visa partner for contactless payments

Thursday, May 1, 2003

Visa and Philips are working in tandem to push secure contactless payments into non-traditional payment venues. While both companies are already major players in the advanced payments space, and Philips holds a position as one of the world’s premiere manufacturers of consumer electronics, this announcement suggests a recognition of the burgeoning market for payments via a variety of connected consumer electronics devices.

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A new survey from Euro Kartensysteme shows that Germans are starting to embrace the idea of contactless and NFC payments.

Out of 1,040 Germans aged 18-59, 43% responded that they would like to make contactless payments if given the opportunity, of which 58% percent would make their payments with a debit card card, 41% with a credit card and 50% with an NFC phone.

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Datacard Group, a provider of secure ID and card personalization solutions, has announced an equity investment and strategic partnership with DeviceFidelity, makers of the In2Pay mobile payments solution.

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Visa and Imperial Parking Canada Corp. (Impark) are teaming up to offer Visa payWave contactless payments to 72 of its attended parking facilities across Canada.

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Ed McLaughlin, MasterCard’s head of Emerging Payments, has some good news for those waiting on NFC-enabled phones for contactless payments.

In an interview with Fast Company, McLaughlin said that he didn’t know of a handset maker who wasn’t working on integrating support for PayPass contactless payments.

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Visa, in partnership with Monitise, has launched a suite of new mobile financial services on its revamped Debit Processing Service platform, enabling mobile phone users to check their account history and balances, transfer funds between accounts, and receive real-time transaction alerts.

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Visa Europe is anticipating a big year for contactless and NFC payments, with issuance projected to leap from 30 million in 2011 to 50 million in 2012.

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