Contactless Retail Payments: Banks Must Change Their Approach


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Too often, contactless payment systems, whether card-based, mobile device-based or embedded in other tokens, are treated as if they are one payment solution. This couldn't be further from the truth. Banks need to segment their contactless offerings if they are to expect any return on investment.

Table of Contents

  • Analysis
    • 1.0 Viewpoint
    • 2.0 The Focus of This Research
    • 3.0 Analysis
      • 3.1 Contactless, Not Definitionless
      • 3.2 ICMP in Japan
      • 3.3 NFC — Hype Obscures Reality
      • 3.4 Impact on Banks — Think Local and Multiapplication First
      • 3.5 Consumers' Perception: No Natural Interest for Many Consumers
      • 3.6 Acquiring Considerations — Speed Overrated
      • 3.7 The Octopus Card — No Overnight Success Story
    • 4.0 Recommendations
  • Recommended Reading
© 2009 Gartner, Inc. and/or its Affiliates. All Rights Reserved. Reproduction and distribution of this publication in any form without prior written permission is forbidden. The information contained herein has been obtained from sources believed to be reliable. Gartner disclaims all warranties as to the accuracy, completeness or adequacy of such information. Although Gartners research may discuss legal issues related to the information technology business, Gartner does not provide legal advice or services and its research should not be construed or used as such. Gartner shall have no liability for errors, omissions or inadequacies in the information contained herein or for interpretations thereof. The opinions expressed herein are subject to change without notice.

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