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Search Results for: "contactless cards"

Advocates Look to EMV Fuel Pumps And Contactless Cards for Advances in Payments Tech

The U.S. Payments Forum on Monday reported that the vast majority of large U.S. merchants now accept EMV chip cards. With the conversion to chip from the old magnetic-stripe payment technology at the point of sale now over the hump, though still far from complete, advocates are looking at fuel …

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COMMENTARY: Debunking Six Mythical Barriers Along the Path to Contactless Cards

The foundational technology for contactless credit cards has existed for some time, but we haven’t seen them adopted en masse yet, at least not Stateside. Much of that reluctance has to do with perceived obstacles or assumptions—perceptions that may or may not be entirely accurate. Following are objective responses to …

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Americans Have Yet To Connect With Contactless Cards

In the United States, contactless payments are virtually synonymous with mobile payments. In other countries, contactless payments usually mean tap-and-go transactions with a plastic debit or credit card. In the United Kingdom, for example, spending on contactless cards reached a record £3.4 billion ($4.2 billion at current exchange rates) in …

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Other Countries Embrace Contactless Cards, but the U.S. Still Shuns Them

When it comes to contactless electronic payment transactions, the U.S. payments industry seems to be more interested in using smart phones than plastic debit or credit cards. But other countries have gone the opposite route. In the United Kingdom, for example, spending on contactless cards reached a record £3.4 billion …

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Cautious Consumer Spending Depresses CPI Card Group’s Sales

CPI Card Group Inc. posted $444.5 million in net sales in 2023, a 7% decrease from 2022. The card and payments solutions provider saw an even larger drop during the fourth quarter, posting net sales of $102.9 million, a 19% year-over-year decrease. CPI attributed the declines to cautious consumer spending, …

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Lessons Learned From the Chip Shortage

Wide-ranging disruptions in microchip supply slammed the payments industry hard from 2020 to 2022. Now, are terminal makers better prepared? Back in 2020 and 2021, terminal makers were scrambling to get their hands on the microchips they needed to power their devices. Lead times on orders had stretched to 18 …

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Who’s Afraid of SoftPOS?

The technology is building momentum as merchants of all sizes displace POS terminals with commercial off-the-shelf devices. There are some issues. It wasn’t all that long ago that the idea of turning an ordinary smart phone into a point-of-sale terminal seemed like a pipe dream. But more than a decade …

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The NFC Forum Looks to Widen the Range for Contactless Payments

A significantly longer range for contactless transactions could be a reality in the market within the next two to five years, according to news released this week by the NFC Forum, the standards body for near-field communication technology. The current standard for contactless payments is five millimeters, or about one-fifth …

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Why Niche Markets Are Ripe for Cashing Out Cash

There are still plenty of cash-heavy merchant markets that are looking to launch—and expand—digital payments. As deeply embedded as digital payment are at the point of sale, there are still merchant segments that are heavy on cash and light on digital-payment technology. These markets—including vending machines, micro-markets, and laundromats—are beckoning …

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ACI Picks New CEO And Other Digital Transactions News briefs from 5/31/23

ACI Worldwide Inc. named Thomas Warsop its president and chief executive effective June 1. Warsop continues to be a member of ACI’s board of directors, which he joined eight years ago. He had served as interim president and CEO since November following the departure of Odilon Almeida, who held that role since …

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