Give Members a Faster, No-Touch Point-of-Sale Option with Contactless Cards
Contactless cards offer your members the fast, secure, touch-free experience they want at the point of sale – without having to migrate away from the cards they already use. Tap-and-go card payments hit critical mass in the early months of 2020 as consumers reached for the safety of contact-free payments. Now, the ease and convenience of contactless payments are becoming both a default and a differentiator:
- Contactless is the new top-of-wallet: Nearly half of cardholders (46%) traded their top-of-wallet card for one that offered tap-and-go in an April 2020 global study by Mastercard.1 According to Visa, contactless payments by card and digital wallet increased 150% between March 2019 and March 2020.2
- Merchant acceptance is widespread and growing: Contactless payments are an option at roughly 65% of the nation’s merchants3 – and more than 75% of the top 100 U.S. merchants.4 Contactless is also expanding its reach as public transit in New York, San Francisco and Boston adopt tap-and-go payments.
- A faster experience is better: Contactless transactions are 10x faster than chip transactions, improving the point-of-sale experience and inspiring card spend and usage.
- Security is seamless: Contactless cards provide the same dynamic EMV security used in chip cards and they do not require a signature.
Your members are making the leap to contactless payments. Give them the digital payment options they prefer to build a primary financial relationship and advance your digital transformation journey.
Learn more about contactless cards from your CO-OP representative.