The Daily Telegraph
Now that mobile payments have arrived, it’s clear that the days of contactless cards are numbered. They’re just a palatable stepping stone from plastic to mobile.
According to Tim Monger, UK partner at the Boston Consulting Group, 20pc of all consumer payments will be digital by 2021 – that’s four times more than today. Just over half of that will be touch-and-go payments. Surely that sort of global scale cannot be achieved by flooding the market with more and more contactless cards. Already, a median of 43pc of adults worldwide own smartphones, according to data from the Pew Research Centre.