Fully understand why contactless cards aren't saturating the US market with this chart.
 | | NEW CHART & DATA: PAYMENTS | | Here's how issuers can warm US consumers to contactless tech — and why it could fuel a boom in 2019… Though NFC terminal penetration in the US is high, customers are struggling to warm to contactless technology in the market, according to data from the TSYS 2018 US Consumer Payment Study. Encouraging customers to pay contactlessly has a number of back-end benefits, including increased transaction safety relative to magnetic stripe cards and added efficiency that can decrease checkout times and make payments more seamless. But for issuers, contactless cards are slightly pricier than non-contactless cards, which means that it's important to find ways to encourage customers to use the technology to realize these benefits to a degree that can help offset the investment.
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| - Most US consumers still don't have contactless technology. Sixty-five percent of US adults surveyed by TSYS do not have a contactless card. Considering that the average adult has between two and three credit cards, this figure is fairly indicative of just how small the technology's reach still is in the region — a marked contrast from otherwise similar markets, like the UK and Australia, where contactless cards are nearly omnipresent.
- Those that do have the option are still reticent to use it. TSYS found that 16% of survey respondents have a contactless card, but of that group, just over half (55%) have used it to make a purchase at least once — a fairly small group. Part of that issue could be awareness, since nearly a fifth of survey respondents didn't know if their card had contactless technology. But other structural hurdles seem to be coming into play as well.
Here are a few tactics that issuers, merchants, and card networks can use to stoke adoption:
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