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Contactless Acquiring

Contactless Acquiring. Matt Rowsell, Head of Business Development, RBS WorldPay. What is Contactless?. NFC chip – form factor currently a card For customer Contactless = faster low value payment For merchant Contactless = less cash and lower card charges

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Contactless Acquiring

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  1. Contactless Acquiring Matt Rowsell, Head of Business Development, RBS WorldPay

  2. What is Contactless? • NFC chip – form factor currently a card • For customer Contactless = faster low value payment • For merchant Contactless = less cash and lower card charges • For acquirer Contactless = new transaction opportunity

  3. Contactless Opportunity Billion • Nearly 20 Billion sub £10 transactions • 90% are in cash • Groceries plus food and drink equates to 50% of sub £10 spend Source: UK Payments Council 2009

  4. RBS and Contactless First contactless Tap Taxi Pilot Bus Pilot 2007 2008 2009 Retailer Pilots in London and Liverpool

  5. Issuers don’t want to issue cards until there is somewhere to use them Merchants don’t want to invest in readers until lots of customers have cards Issuing vs Acquiring &

  6. Contactless Adoption Tipping Point Debit Cards 10m cards Aggressive Terminal Roll Out POS Terminals (Estimated Maximum Penetration 40-50%) Slow Roll Out of Terminals Source: RBS WorldPay estimates

  7. Accelerating Adoption • Incentivised adoption: • Cardholders • Retailers • Education of consumer • Retailer education and behaviour • Killer applications

  8. RBS Pilot Autumn 2008 NFC stickers acting as Maestro Debit Cards on RBS accounts Imperial College – over 100 students participated Campus canteen enabled: Contactless reader Trained staff Lessons Learnt Easy to recruit participants Unpredictable behaviour Closed loop worked fine Significant merchant resistance outside of campus Mobile Contactless

  9. Conclusions • Significant opportunity of contactless • Form factor will change over time • Consumer education necessary • Merchant engagement crucial Questions?

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