Contactless technology represented over 42% of total smart payment cards shipments globally in 2014, up from 37% in 2013. The data collated by the SPA – whose seven members represent around 75% percent of the total available market – also highlighted the primacy of the Dynamic Data Authentication (DDA) technology. DDA provides chip-and-PIN cards with high levels of protection against modification of data and card cloning. 70% of cards shipped in 2014 featured this technology – up from 66% in 2013.
Nicolas Raffin, new SPA President, commented: “The enthusiasm for new ways to pay, with more convenience and security, is driving the growth of contactless payment. “Across the world we have seen an increasing number of retailers actively promoting ‘tap and go’ payment for lower value purchases – reducing queuing and offering greater speed and convenience for customers at the point of sale. We expect this trend to continue to gather pace as we move through 2015.”
“New ways to pay” forms part of a detailed vision paper from the SPA available here
www.smartpaymentassociation.com
