February 10, 2015
Over 2.5 million merchants accept MasterCard contactless payments across 66 countries and this number continues to grow. Research from Informa reveals that more than 90% of the total global value of transactions from mobile NFC payments, i.e. US$ 2.4 billion in 2011, was generated in the Asia Pacific region, although Europe and Canada have also significantly scaled up in terms of NFC payments. We analyzed the contactless payments situation in some countries that are driving the overall market. The scenarios in the following 10 countries shows that contactless payments are indeed making waves across multiple geographies.
Australians are favoring contactless payments day-by-day, ditching traditional payment methods. Even merchants are seeing a high demand and are rolling out specialized terminals to cope up with the trend. More than 58 million Visa PayWave payments were made in July alone last year. As per a research by RFi, 70% of the adult population now owns a NFC based credit or debit card. MasterCard has 320,000 tap-and-go-enabled cards issued in the market. According to a report by Australian bank Westpac, contactless payments via mobile will reach A$3 billio ...