Visa and Mastercard Forecast More Growth in Contactless in U.S., Spurred in Part by New York Fare Payments Service

Visa and Mastercard Forecast More Growth in Contactless in U.S., Spurred in Part by New York Fare Payments Service

NFC TIMES Exclusive Insight – The heads of the two largest payments networks in the U.S., Visa and Mastercard, predict strong growth for contactless payments in the U.S., with Mastercard CEO Ajay Banga noting that 70% of U.S. Mastercard-branded cards in the U.S. are coming up for reissue over the next 12 to 14 months, and most of these cards will be issued with a contactless interface. A large number of Visa-branded cards will be reissued with a contactless interface during that period, as well.

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