Get Ready for Contactless Payments | NACS Online – Media – News Archive
Sign In Help

The Association for Convenience & Fuel Retailing

Skip Navigation LinksNACS Online / Media / News Archive

Get Ready for Contactless Payments

Report predicts that frequency of contactless payments will grow by 100% this year.
September 9, 2015

​NEW YORK – As Apple Pay adoption continues, more shoppers are using contactless payments to purchase items in stores, according to a new report issued from market researcher Juniper Research. Contactless payments let shoppers wave their mobile phone in front of a reader at the cash register to make a payment. Their credit card is automatically billed without them having to take it out of their wallet.

As Fortune writes this week, Juniper Research says that the number of mobile wallets using contactless technology is expected to reach 200 million by the end of 2016, up 100% from the end of 2014. This estimate affirms earlier statements from Apple CEO Tim Cook, who has said that Apple Pay will be accepted by 1.5 million locations in the United States by the end of this year.

What’s more, says Fortune, the launch of Apple Pay has helped spur the overall growth in contactless payments over the past year, as Google debuted its contactless mobile payments technology, Android Pay, earlier this year and is expected to roll the service out broadly in the next few weeks. Another platform for the technology, CurrentC—developed by the Merhcnat Customer Exchange (MCX), a group of merchants including some convenience retailers—is also in the works but has not yet officially launched.