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eMoney News

New contactless payment system 'improves access for customers'
10 Jul 2009

The words 'wave and pay' are set to become part of the lingo for travellers as contactless payment takes off around the globe.

Contactless payment is predicted to rise significantly over the next few years, with new estimates from Yankee Group forecasting 23.6 billion transactions worldwide by 2012, rising to 31.8 billion contactless payments by 2013. 

General manager of Mobile Commerce Solutions and POS Barry McCarthy told QSRmagazine.com that the increased prevalence of merchants equipped to take contactless payments is "potentially giving consumers exponentially more places to use this payment type".

"Merchants can ready themselves for contactless adoption reaching a critical mass thanks to new form factors, as well as eventually the chip residing inside the mobile phone, while still being able to accept PIN and magnetic stripe payments", he added.

The new technology means merchants will be able to allow customers complete control over their transactions, the website reports.

sQuidcard offers a variety of eMoney solutions, including contactless payment schemes, which are available to all age groups.