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eMoney News

Contactless e-money solutions offer range of benefits
22 Dec 2010

Contactless e-money solutions offer retailers a range of benefits, an expert has claimed.

Speaking to Avisian, Patrick Gauthier, senior vice president at payment's blog Commerce Fault Line, expressed his belief that contactless payments provide additional security over traditional payment methods.

"We need to leverage contactless deployment in US, which has been happening slowly but surely," he told the news provider.

"If you fix the transactions rules–interchange fees, authentication requirements–balancing the merchants and issuers benefits, you can make contactless a no-brainer, even for large merchants like Walmart."

Mr Gauthier added that some consumers may be better suited to the intuitive nature of contactless technology, especially older customers who may find it difficult to use the traditional swipe cards.

Furthermore, contactless technology is not restricted to card form and can be incorporated into a number of devices, he claimed.