I think a better market to look at for contactless payments is Australia. Over here we use them for everything. Apple pay has just started rolling out and pretty much 95% of places I've shopped/eaten at support it. If you're curious about adoption rate, it's a good case study as there's an existing contactless credit card system already in place.
Apple Pay Now Accounts for Three-Fourths of U.S. Contactless Payments
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Re: Apple Pay Now Accounts for Three-Fourths of U.S. Contactless Payments
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Re: Apple Pay Now Accounts for Three-Fourths of U.S. Contactless Payments
#13It's interesting reading about chip+pin and contactless payments in the US - in Australia 95%+ of transactions are chip+pin, and 70% of that (almost all transactions under $100) are contactless. The system isn't perfect, and anecdotal stories from LEOs indicate fraud has risen due to the low friction of contactless transactions, but obviously it's not too big a problem for the banks to wear (as all fraudulent contact…
The US Chip + Signature system is 1000x worse than the Chip + Pin systems I've experienced in any other contry
Re: Apple Pay Now Accounts for Three-Fourths of U.S. Contactless Payments
#14Here in Switzerland, nearly every terminal supports contactless payments and Apple Pay has launched ~1 month ago.
Yet, next to nobody uses it because it's generally not available even though it has officially launched: Nearly all of the banks here are boycotting it and are pushing their own mobile payment startup [1] which also has much worse usability and was initially launched by the Swiss post, a company that still thinks that a 4 digit pin on their debit card is good enough.
Re: Apple Pay Now Accounts for Three-Fourths of U.S. Contactless Payments
#15It's frustrating how the US is the only country I travel to where I cannot use my non American NFC cards. Half the terminals I encounter really only accept apple pay or a form thereof.
At this point it's amazing the number of terminals with chip capabilities which aren't even enabled
Re: Apple Pay Now Accounts for Three-Fourths of U.S. Contactless Payments
#16Last I checked nobody used contactless payments in the first place.
Really? In Canada, almost everyone uses them and almost everywhere supports them
Also very widely in Australia, New Zealand and the UK.
Some American visitors were recently surprised when I said interbank transfers clear within the hour. The environment in the US is quite different to the rest of the world.
Re: Apple Pay Now Accounts for Three-Fourths of U.S. Contactless Payments
#17Last I checked nobody used contactless payments in the first place.
Really? In Canada, almost everyone uses them and almost everywhere supports them
It's definitely a US thing. Here in Australia, everyone hardly uses Apple Pay and all major banks have their own cards/app that does NFC payments.
I find it really strange that it is not widely adopted in the US since it removes a lot of friction when it comes to paying for stuff ergo encourages more business. I.e. my usual coffee joint was always packed in the mornings and since they adopted NFC payments a few years back, I noticed the usual bottleneck queue of people paying at the cashier is significantly less unless someone starts jiggling for coins.
Re: Apple Pay Now Accounts for Three-Fourths of U.S. Contactless Payments
#18Last I checked nobody used contactless payments in the first place.
You're right. Usage in the U.S. is falling [1] and low compared to other markets, e.g. the U.K. and Canada [2].
[1] "[As of March 2016] only 3.5 percent of eligible transactions for those consumers are via Apple Pay, down from 5.9 percent in March of 2015 and 4.6 percent in October. Eligible transactions are those where the consumer has the right phone and merchants have the right enabling POS technology — that is the intersection of consumers with iPhone 6/6S’s and merchants with contactless terminals."
http://www.pymnts.com/apple-pay-tracker/2016/apple-pays-big-...
[2] http://www.pymnts.com/nfc/2016/uk-lessons-for-us-mobile-paym...
Re: Apple Pay Now Accounts for Three-Fourths of U.S. Contactless Payments
#19Re: Apple Pay Now Accounts for Three-Fourths of U.S. Contactless Payments
#20Last I checked nobody used contactless payments in the first place.
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