While growth in contactless payment card issuance is paving the way for convenient daily payments without the need to carry cash, the market has yet to reach the highly anticipated solution that would offer wide scale mobile payments. Most cite the “chicken and egg” relationship between mobile handset providers and POS acceptance as the reason mobile payments have so far failed to reach a critical mass.
NFC tags combined with a prepaid account offers an accessible product that introduces consumers to mobile payments through a secure prepaid that doesn’t require bank or credit card information. This open solution provides the ability for contactless payments that can bridge that gap and provide consumers with the convenience to of “always having the right change” without the need to carry around of cash.
Supported by Carta’s next-generation processing platform and complete suite of services, customers can take advantage of an end-to-end service that provides a market ready product and a first step towards a comprehensive mobile payments solution offering.