NFC TIMES Exclusive Insight – With U.S. banks finally beginning to issue dual-interface EMV cards in significant numbers this year and more U.S. merchants accepting contactless and NFC payments, a key question becomes whether contactless card payment will help or hurt the prospects for what has generally been considered as disappointing take-up of NFC wallets.
The Payments Strategies Group at the Federal Reserve Bank of Boston, which conducts research and analysis on digital payments, among other activities, addressed the question in its new report, “Tap to Pay: Will Contactless Cards Pave the Way for NFC Mobile Payments in the U.S.?”
The report’s authors, Marianne Crowe, group vice president, and Elisa Tavilla, an industry consultant for the group, held discussions with 12 industry “stakeholders,” including representatives of card networks, financial institutions, payments processors, merchants and technology providers. They also conducted secondary industry research on the topic.
