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A comeback for contactless cards
IMAGE: Bloomberg News
Contactless cards are poised for a resurgence on a global scale. Even in the U.S., where many issuers abandoned their contactless card plans years ago, some are making big moves in the market — most notably, Citi has committed to putting contactless technology in the cards it issues to its massive portfolio of Costco members, despite Costco not having contactless card readers installed. In the U.K., more than one in five card transactions was contactless by mid-2016, doubling the volume from the prior year, according to recent data from the UK Cards Association.