For the eighth year in a row, gift cards were at the top of everyone's wish list for the holidays. Providing unlimited possiblities, gift cards are the preferred way to give the gift of choice. As the crowds thin and summer nears - 'tis time to review the gift card trends at retail during the 2014 holiday shopping season...and look ahead to 2015!
Newly released figures from the Smart Payment Association indicate that the number of chip cards shipped around the world more than doubled within three years — from 1 billion shipped in 2011 to more than 2.1 billion shipped in 2014.
According to an SPA press release, growth in the Chinese and U.S. markets contributed to this significant increase. Detailed figures also confirmed the growing demand for "tap-and-go" contactless payment across the world.
Contactless technology represented more than 42 percent of all smart payment cards shipped in 2014, up from 37 percent in 2013, according to data collated by the SPA, whose seven members represent around 75 percent percent of the total available market.
The cata also highlighted the primacy of dynamic data authentication technology, which protects chip-and-PIN cards against cloning and data, the release said. Seventy percent of cards shipped in 2014 featured this technology — up from 66 percent in 2013.
"The enthusiasm for new ways to pay, with more convenience and security, is driving the growth of contactless payment," said SPA President Nicolas Raffin, in the release. "Across the world we have seen an increasing number of retailers actively promoting 'tap-and-go' payment for lower value purchases — reducing queuing and offering greater speed and convenience for customers at the point of sale. We expect this trend to continue to gather pace as we move through 2015."
"New ways to pay" forms part of a vision paper from the SPA.
Source: ATMMarketplace.com
MEDIA CONTACT:
KATY LASEE | MARKETING DEPT.
651 554 8533
KRLasee@traveltags.com
Last week Bloomberg, the financial news provider, published an article quoting anonymous sources suggesting that InComm is pursuing a dual-track process that could lead to an outright sale of the payments technology company. As InComm is a major player in prepaid worldwide, Paybefore wanted more details, so we contacted Scott Meyerhoff, InComm’s COO and CFO. Meyerhoff tells Paybefore that Bloomberg got it wrong.
In an exclusive interview, Meyerhoff tells Paybefore that the company is not for sale, not planning to sell and has not engaged any third party to contemplate or pursue a sale. “It’s speculation and it’s wrong,” he says. “We’re focused on taking care of our customers, pursuing acquisition opportunities, driving commerce and continuing to expand our business. What we’re not doing is reaching out to potential buyers, nor are we planning to reach out to potential buyers, as the article claims. We’re certainly flattered by the attention, but it’s simply incorrect.”
The article, which appeared in BloombergBusiness, contended that the other part of the dual-track process is a $400 million IPO to launch in the second half of the year.
On the IPO issue, Meyerhoff tells Paybefore that InComm has not officially engaged anyone in connection with an IPO. He concedes that InComm has longstanding relationships with a number of investment banks and that company executives meet regularly with bankers as a matter of due course.
“Investment bankers offer us their counsel—and we listen,” Meyerhoff says. “We’ve been doing this for years and we’d be foolish not to listen.
“As for current plans for an IPO, we’re stewards of this business and we’re continuously contemplating options,” he adds. “In light of current trends in the capital markets, we’ve increased our diligence on this topic. If market conditions are right, we’d certainly consider an IPO—just as other companies in our line of business have done. This is a topic of discussion we have every year, and the level of interest is driven by market conditions.”
Source: Paybefore.com
MEDIA CONTACT:
KATY LASEE | MARKETING DEPT.
651 554 8533
KRLasee@traveltags.com
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