Floundering or Burgeoning? Examining the contactless payments market
The state of the contactless payments industry is up for debate depending on whom you ask. Recent issuance statistics have led some to claim victory, while others have interpreted the same numbers in a much more negative manner. “You are definitely going to get a glass half full glass half empty difference,” says Randy Vanderhoof, executive director of the Smart Card Alliance.
Javelin Strategy, a Pleasanton, Calif.-based research group, released a report in the spring stating that contactless technology hasn’t taken off as fast as many thought it would. Researchers don’t agree on how many contactless cards are out there – in the U.S. or even throughout the world – possibly because of the reluctance by credit card companies to release precise country-by-country figures.
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