40% of merchants need to be equipped for contactless payments to take off

A survey of consumers in the UK & Ireland, Germany, Australia, Poland and the Middle East has found that 40% of merchants will need to be equipped with contactless point-of-sale terminals before consumers begin to use the technology widely. The survey was commissioned by payments processing giant First Data.

Our analysis suggests that if all of the top 20 retailers and most of the remaining top 100 retailers deployed compatible contactless POS terminals in the U.S., it would reach the tipping point for consumers to begin using contactless payments technologies as the preferred “swipe” method.