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Contactless Payments:New Merchant Data Reveals Opportunities and Threats for Bankcard Issuers
Javelin Strategy & Research, March 2006
Issuers and payment networks can better expand contactless acceptance by interacting with merchants on a variety of levels, through co-marketing agreements, co-branding efforts and other activities.
This report is based on a December 2005 survey of over 900 merchants of various sizes in seven different industry categories, and will help companies derive more value and efficiency in contactless payment implementations, through a better understanding of specific implications of merchant attitudes.
The key to growth in contactless and other point-of-sale enhancements lies in understanding the attitudes and behaviors of merchants and the enhancements they are considering. This report is based on a December 2005 survey of over 900 merchants of various sizes in seven different industry categories. The report is designed to help companies derive more value and efficiency in contactless payment implementations, through better understanding of specific implications of merchant attitudes.
Primary Questions:
- What differentiates merchants who are considering contactless acceptance?
- What are specifi c opportunities and threats for issuers implementing contactless programs?
- How can issuers work with merchants to drive contactless acceptance?
Major Findings:
Merchants could use contactless payments technology to more easily drive private-label card programs, usurping bankcard transaction volume. Issuers must integrate merchant loyalty programs into contactless acceptance campaigns, both to avoid disintermediation and to make the business case for contactless technology acceptance. Merchants considering contactless payments view cash transactions and handling cash as expensive, and seek to convert these transactions to cards.
Target Audience: Card issuers, merchants, payment networks
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