GUEST POST: Is London’s transport system finally ready for contactless payments?

Consumer and commuter education on the topic of contactless payment being secure is still clearly needed.
But will the banks, card issuers/acquirers and MNOs play nice together? Or are we getting set for more of “Wallet Wars”? Some progress towards the uniformity of user mobile experience, please!

Contactless Intelligence

TfL undergroundBy Eve Pearce.

London is a traveler’s city, a place where everyone is constantly on the go. Tourism is on the rise and people are eagerly looking for better, more convenient ways to spend their holiday cash. During the first six months of 2014, vacation visits in the United Kingdom were up 12% from last year. Economists project 2014 will show a 7% increase in tourism spending and a new record of £1.97 billion was set in the month of June alone.

Business visits are also slowly rising, with just a modest 5% increase in the last year. Whether visiting on holiday or business, travelers want access to expedient payment systems that are easy to use and easy to understand. However, they don’t want to suffer from anxiety, worrying that their funds are lost in some digital dead-zone. The greatest fear about contactless payment is just that: the lack of…

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