Viewpoint: Contactless Transactions

Contactless_Card_SymbolIn an EAST website research poll that ran from May to August 2015 respondents were asked the question ‘What impact do you think that contactless transactions will have on cash withdrawals and payments?’  52% answered ‘Big Impact’, 38% ‘Limited Impact’, 7% ‘Could lead to the demise of cash’, and 3% ‘No impact’!


EAST Poll May to Aug 15Contactless payment systems are credit cards and debit cards, key fobs, smartcards or other devices that use radio-frequency identification for making secure payments. The embedded chip and antenna enable consumers to wave their card or fob over a reader at the point of sale.

The current website research poll, which closes at the end of December, is on cardless transactions at ATMs and asks the question – ‘Cardless transactions at ATMs are convenient, fast and safe. Do you feel that NFC technology is the best payment alternative to cards, or should the industry move towards application-based solutions?’ To take it, and to see all past results, visit the ATM Research Page on this website, or click on the button below.

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