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Is OEM-Pay the Future of Contactless?

The contactless payment card offers an array of benefits to both retailer and consumer, most notably:

  • faster throughput at the POS (Point of Sale) terminal, potentially leadingto increased sales;
  • reduced operating costs from cash handling.
In most markets, the contactless card has been the first consumer engagement via ‘tap and go’. However, to succeed the contactless card needs the attendant payment infrastructure to be upgraded to support contactless transactions, thus requiring co-operation from the various stakeholders in retail payments.