Just over half of UK consumers believe that the growing popularity of digital payments is making physical wallets irrelevant (51%) and one in five say they do not expect to carry a wallet or purse within five years (21%), a figure that rises to 38% among millennials, according to a Mastercard survey... More
Adoption
Seven in ten pay-as-you-go bus fare payments in London are now contactless
Some 1.7m fare payments for journeys on London buses are now made using a contactless payment card or mobile device every day, about 70% of all payments for pay-as-you-go bus fares in the UK capital, up from 33,000 a day in 2013 and 900,000 a day in 2017, Transport for London (TfL) reports... More
RBR: Eight in ten payment terminals across the world now accept contactless payments
More than eight in ten payment terminals worldwide now accept contactless payments (82%) as the number of outlets accepting card payments globally grew by 2% in 2021 to reach 88m and the number of eftpos terminals increased by 5% to reach 134m, according to research from RBR... More
One in two Brazilians now store contactless credentials on their smartphone
More than half of the Brazilian population are now storing and using a digital version of their voter ID card (54%) or driving licence (51%) on their smartphone, while just over four in ten have a digital vaccination card (43%) and one in four have uploaded the recently launched digital Carta de Identidade Nacional national ID card (25%), according to a survey... More
Central Bank of Nigeria limits cash withdrawals to drive CBDC and digital payments adoption
The Central Bank of Nigeria (CBN) is restricting the amount of cash that consumers and businesses can withdraw from ATMs to 20,000 naira (US$45) per day and 100,000 naira (US$225) per week... More
Increasing adoption of NFC, QR codes and biometrics drives growth across cardless ATM market
The global cardless ATM market will have increased in value by US$2.11bn by 2026, an expansion driven by the growing adoption of NFC- and QR code-enabled smartphones and the emergence of biometric ATM technology, according to a Technavio forecast... More
Contactless mobile payment users to top 1bn globally by 2024
The total number of consumers globally making contactless mobile payments with a smartphone or other NFC-enabled device will exceed one billion for the first time by 2024, rising from 782m in 2022, according to a Juniper Research forecast... More
More Nordic consumers now prefer to make mobile payments than use cash for face-to-face transactions
One in ten consumers in the Nordic countries now prefer to make mobile payments at the point of sale, double the number who prefer to use cash (5%), making mobile payments the second most popular payment method in the region for the first time, according to figures from regional payments processor Nets... More
Paris Metro begins phasing out physical tickets as it moves towards completely contactless fare payments
Île-de-France Mobilités (IDFM) has begun phasing out the sale of physical tickets for journeys on the Paris Metro as the first step towards accepting contactless or mobile fare payments only... More
One in four card payments in Australia are now made using a mobile wallet
A quarter of all debit and credit card transactions made in Australia are now made using a mobile wallet (25%), up from 10% in the March quarter of 2020, according to figures from the Reserve Bank of Australia (RBA). ... More
Juniper forecasts 121bn virtual card transactions by 2027
The integration of virtual cards into digital wallet services like Apple Pay and Google Pay will drive a 340% increase in virtual card transactions, from 28bn in 2022 to 121bn by 2027, Juniper Research predicts... More
Visa reports rapid growth in contactless fare payments worldwide
Visa has processed more than 1bn contactless fare payments on transit systems around the world over a period of 10 months, signalling “rapid growth” in the uptake of digital payment options, the card network reports... More
Nearly half of UK consumers now make mobile payments every week
More than four in ten UK consumers now make in-person and ecommerce purchases from their mobile device on a weekly basis (43%), making mobile payments “the predominant form of payment” in the country with mobile commerce transaction values predicted to reach £100m (US$112m) by 2024, according to research published by payment services provider Rapyd... More
Global digital ticketing transaction values to hit US$1.4tn in 2027
Digital ticketing transaction values worldwide will exceed pre-pandemic levels next year and reach US$1.7tn in 2027, up from US$768bn in 2022, according to a forecast from Juniper Research... More
Contactless payments set to hit US$10tn globally by 2027
Global contactless transaction values will reach US$10tn by 2027, up from US$4.6tn in 2022, with contactless mobile and wearable payments expected to grow by 221% and contactless card payments by 119% over the same period, according to a Juniper Research forecast... More
Greece reports on uptake of digital ID cards and driving licences
More than 710,000 Greek citizens have used the Greek government’s Gov.gr Wallet app to create and store a digital version of their national identity card on their smartphone and more than 563,000 have used it to generate a digital version of their driving licence since the service went live last month... More
Three quarters of iPhone users in the US have now enabled Apple Pay
Three in four iPhone users in the USA have now activated Apple Pay (75%), a rise of 25 percentage points from 50% in 2020, according to research by Loup Ventures... More
Nearly a third of all payments in the UK are now contactless
Nearly one in three of all payments in the UK were made using contactless cards or with a smartphone or smart watch in 2021 (32%), a rise of 36% compared with transaction volumes in 2020, according to figures from UK Finance... More
Nearly 50% of payments for purchases from vending machines in the US are now contactless
The proportion of contactless payments made for purchases from vending machines in the US increased from 18% of all transactions in January 2021 to 43% in October 2021, has now reached 48% and “could grow by another 12%” by the end of this year, a new study reveals... More
Bank of New Zealand cuts contactless transaction fees with software-only POS solution
Merchants in New Zealand can now accept contactless payments on an ordinary Android NFC smartphone using a low-cost software point of sale (sPOS) solution that users will be able to implement without a monthly fee for using the app until January 2024 if transactions are settled to a Bank of New Zealand (BNZ) account... More