Rapid uptake of 'tap-and-go' cards set to continue
Article by Mozo
The rapid uptake of tap-and-go payment cards in Australia is set to continue and could eventually overtake cash, it has been suggested.
A report by National Features, hosted on news.com.au, notes that over four million people are already using tap-and-go payment cards in Australia, with that figure expected to more than double in 2011.
The two major issuers of the cards in Australia are MasterCard and Visa, with transactions currently limited to less than $100.
It was also reported that around 35,000 retail outlets now accept tap-and-go cards in Australia, with that number predicted to triple next year.
Such a surge in tap-and-go payments could encourage more Aussies to compare debit cards and switch provider.
Speaking to National Features, MasterCard Australia country manager Andrew Cartwright noted that tap-and-go cards offer consumers speed and convenience when making smaller, everyday purchases.
"Our research found that once a cardholder has used their card three times, they are very accepting of contact-less payments. Once they are experienced with them they become frequent users," he said.
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