Retailers adopt contactless payments

Contactless payment systems are approaching the tipping point of adoption in retail operations, said analyst Aberdeen Group.

After numerous pilots and implementations in the last three years, the continued pressure to improve the customer shopping experience is prompting retailers to adopt this technology, said Aberdeen.

Aberdeen’s research shows that 58% of all respondents across multiple retail classifications indicated that they plan to implement contactless payment solutions within the next 18 to 24 months.

However, said Aberdeen, just as in the case of radio frequency identification technology, RF-based contactless payment technology will only cross the tipping point of adoption in retail when firms start measuring and using contactless transactional data in their internal processes and systems, to attain real return on investment.

Unless such business intelligence initiatives were put in place, take-up will be needlessly slowed, said Aberdeen.

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