Contactless Cards Move Ahead in Mass Transit, But Stall Elsewhere

I’m quoted in PaymentSource today, June 19, 2012

…Consumers’ acceptance of contactless cards at the retail point of sale will drive banks’ future issuing decisions more so than whether the cards could be accepted for mass transit, Deborah Baxley, principal at Capgemini Financial Services, tells PaymentsSource.

“The conundrum for issuers is that other than the transportation industry, contactless cards have had a tepid adoption rate,” Baxley says. “And they are seeing technology get even more complex with EMV [smart] cards coming.”

…However, MasterCard Worldwide and Visa Inc. are encouraging merchants to have both contact and contactless readers because EMV standards include a contactless option, Baxley notes.