Overview

 

Contactless Payments

Achieving Ubiquitous Contactless Payments Across Asia Pacific

Driven by consumer expectations, commerce is moving to quick, secure, and frictionless payment experiences. Contactless payments provide consumers and merchants with a solution that is faster and more efficient than cash while maintaining the security features of EMV technology. It is a natural evolution for consumers and merchants to progress from an EMV contact chip experience to a contactless experience.

Furthermore, contactless is the underlying infrastructure that is required for open-loop transit ticketing, and for new payment experiences, including wearables, mobile devices, the ‘internet of things’ and beyond.

More than 1 in 4 Visa transactions across Asia Pacific are contactless, with markets like Australia (84%), New Zealand (66%), Singapore (52%), Taiwan (30%) and Hong Kong (22%)1 leading the way. With regulators across Asia Pacific increasingly focusing on cashless agendas, and with growing demand for mobile payments, the opportunity for the industry is to accelerate contactless.

1 VisaNet May 2017

 

Topics:

Accelerating Contactless Across Asia Pacific – Contactless infrastructure is critical to future payments innovation and addressing the significant cash displacement opportunity that exists in Asia Pacific. This session explores how we can work as an industry to ensure ubiquitous support for contactless across the region.

The Rise of Digital - From mobile payments to the ‘Internet of Things’, new technologies are changing the way consumers pay.  This session provides an overview of the key trends happening today, and how Visa is supporting the industry.

Open-loop in Mass Transit - There is significant momentum both within Asia Pacific and globally for open-loop mass transit ticketing. This session provides an overview and update on what is happening in Asia Pacific and beyond, and looks at some of the opportunities.

Opening New Segments  - Contactless payments provides opportunities to address segments like vending, parking, tolls and charities which have traditionally been the domain of cash. This session will cover Visa’s view on contactless-only payments and other opportunities for new-acceptance.

 

 

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