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Contactless smart cards have the potential to transform everyday payments
4 Mar 2010

Contactless card payment could fundamentally alter the way in which we purchase goods and services, according to new research.

The study was conducted by financial services and payment consultancy Edgar, Dunn and Company (EDC) over half a year in the Indian city of Bengaluru, making it one of the most comprehensive into near-field communications (NFC) ever undertaken.

Samee Zafar, the director of EDC, said: "This pilot has shown, once and for all, that suitably conceived and efficiently implemented NFC programmes, can unlock hidden demand for growth in electronic payments."

Mr. Zafar went on: "NFC technology can help achieve a longstanding ambition that has eluded everyone so far- migrating cash transactions to electronic means."

Since its inception in July 2009, the scheme saw almost 50,000 purchases made by more than 3,000 customers.

Similar schemes are already in operation in other parts of the world by organisations such as sQuidcard, which uses the technology to make paying for transit, retail and school dinners easier and more efficient in the UK.

Much of the north-west and Scotland already offers customers the chance to pay without using loose cash.