Contactless payments, where you simply tap to pay with a contactless card, payment-enabled mobile or wearable device at a contactless-enabled checkout terminal, are taking parts of the world by storm. As the U.S. prepares to accelerate adoption of this fast, simple and secure way to pay, we looked at its exponential growth globally. Our map and the numbers show a clear sign of what's to come: By the end of 2018, Visa projects 50 percent of face-to-face transactions will occur at contactless-enabled merchant locations in the U.S. Here, we look at how the future of contactless payments looks bright across the globe.
Here's a closer look at trends in five markets around the world:
Aussies are big on tapping to pay with contactless cards, making it one of the largest contactless markets in the world. In fact, 92 percent of face-to-face Visa transactions in September used a contactless method of payment.
For the rush of commuters in the UK, the convenience and speed of contactless payments makes perfect sense. Visa reports a 97 percent increase year-over-year for contactless transit transactions and Transport for London (TfL), which accounts for most transit transactions, has seen more than 1 billion Visa contactless journeys since launch.
Parts of Asia have experienced consistent growth in contactless transactions. In Hong Kong, for example, contactless face-to-face Visa transactions have tripled in the past 18 months and today, one in three face-to-face Visa transactions is made via a contactless payment.
Contactless payments have made their way to Latin America too and local merchants are preparing for a surge. In Brazil, 70 percent of POS terminals accept contactless payments.*
The U.S.'s northern neighbor is already ahead of the contactless game. In Canada, Visa's network processed 33 contactless transactions per second just in the month of September.
* LAC merchant acquirer POS data