Monday, April 13, 2015

Contactless Payment Users are Grow 49%

Indonesia is one of the developing countries are participating in the cash payment system changes into a service-based mobile Point of Sales (MPOS). MasterCard revealed that consumers in Asia Pacific has become accustomed to the use of contactless payments. This is indicated by an increase in the number of users of contactless payments in 2014 was 49%, compared to the year 2013.

Emerging Payments Group Head of Asia Pacific, said Raj Dhamodharan, Australia continues to be a leader in the number of users of contactless payments. Nearly two-thirds of transactions using MasterCard conducted without direct contact between the card reader machine at each POS (point of sales). Growth in the number of users of contactless payment by MasterCard Australia also experienced by 45% between 2013 and 2014.

Meanwhile, Singapore is also a country with an increasing number of users of the fastest contactless payments and approaching the number of users in Australia. MasterCard Singapore recorded the highest growth in the use of contactless payment, which is driven by an increasing number of users in the country, where there is a growth of more than doubled in 2014, compared with 2013.

"In addition, Hong Kong also have benefited from a strong marketing push that led to the growth of contactless transactions more than quadrupled in 2014 compared to the previous year (year-on-year / yoy)," Dhamodharan said in a statement on Monday, 13 April 2015.

In addition to these three countries, he said, New Zealand is also experiencing an increase in the amount of usage of contactless payment technology. Research of MasterCard said that eight out of 10 users say it happened because the technology is very saves time (62%) and very comfortable and easy to use (58%).

"The rapid growth in the contactless payments and mobile payments is expected to continue, because in this region are still a lot of cash in circulation and needs to be replaced with this contactless payment system," he said.

While the way the mobile Point of Sales (MPOS) replacing cash in the payment system, when viewed from the past where cash is still the main means of payment, the growing market has now shifted to the new payment technologies, namely by using MPOS which is one The main key in the Asia Pacific region in 2014.

"In short, MPOS technology enables traders to convert their smartphone or tablet and connect the device to a terminal that can read and accept payment cards," he said.

According to research conducted by the Annapolis Consulting Group, the number of MPOS consumption worldwide is expected to grow from 8 million in 2013 to 18 million in 2017. It is predicted that most of the growth was caused by the recent launch of MasterCard MPOS technology in the Asia Pacific region.

For the first time in Indonesia, MasterCard collaborated with BNI and Telkomsel offers payment services via MPOS to the insurance agency Equity Life Indonesia. The payment service not only provides convenience, but also provide a more secure payment experience and better protect customers.

Meanwhile, Taishin Bank in Taiwan in collaboration with MasterCard to launch the first 3in1 MPOS terminals in Taiwan that combines contactless payment method, chip and magnetic tape. Promised that this tool can accept better, with a change of form or another.

In Vietnam, MasterCard cooperate with Sacombank to equip the small traders in Ben Thanh Market with MPOS terminals that allow traders to not only accept cash payments, but also payments with debit cards and credit cards. This cooperation is the first time in 100 years of history of the Ben Thanh market.

While in the Philippines, MasterCard partnered with Globe to empower small and medium enterprises (SMEs) to be able to accept payments by debit and credit cards via MPOS, as well as provide an opportunity to expand their business in the future.

According to him, the mobile device provides the opportunity for small merchants to transform the payment experience to their customers, especially when buying or selling occurs (point of sale), because now they can use the card as a means of payment.

"The longer we can see small businesses and mobile merchants such as insurance agents and business messages between meals switched to the solutions offered by MPOS that can help expand the scope of their customers and sales. Until the time, this can help replace the use of cash in this country, as well as paving the way for the formation of non-cash or cashless society, "concludes Dhamodharan.

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