The U.S. shift to contactless EMV cards is happening now – and accelerating quickly. According to a report by the research firm A.T. Kearney, all top 10 banks are forecasted to be issuing contactless payment cards within the next 18 months. The time is now to begin offering this secure, tap-and-go technology.
The benefits are clear:
- Consumer payment behavior suggests a significant lift in the number of transactions per card within three years of issuance
- Seventy-five percent of consumers say contactless cards are more appealing
- Seventy percent of U.S. merchant terminals are already equipped with contactless card-payable hardware
- Transaction times are reduced by 90 percent – improving top-of-wallet status
- U.S. banks could see incremental card-related earnings of more than $2 billion by 2022 due to contactless cards, the A.T. Kearney study shows
Reports and Articles
Learn more about the U.S. shift to contactless payment cards here
Empowering Your Institution for the Future
FIS, at the forefront of the U.S. movement to contactless EMV cards, stands ready to help your institution adopt Contactless EMV® cards. To learn more about opting for Contactless EMV Card enablement on your platform, please reach out to your FIS client relations or enterprise client services manager.