Tap to Pay: Will Contactless Cards Pave the Way for NFC Mobile Payments in the U.S.?
After 15 years of industry stakeholder debates, trials, and pilots to determine when contactless payments would take off in the U.S., all the components are finally in place to make it happen. This report discusses stakeholder perspectives on the reality of issuance, acceptance, and adoption of EMV dual-interface cards, as well as the impact of contactless cards on NFC mobile payments. The findings reflect discussions with 12 stakeholders, representing card networks, financial institutions, payment processors, merchants, and technology providers, as well as secondary industry research. Payment industry stakeholders share different perspectives on when dual-interface cards will achieve mass adoption, but agree that the U.S. is on the way to supporting both card and mobile contactless payments.