Even though contactless credit and debit card transactions made by tapping a card against a point-of-sale device rely on the same standard as EMV dipped transactions, consumers have different impressions of the security benefits, a newly released study says.
Indeed, 81% of the 1,350 consumers surveyed for the “Emerging Trends at the Point of Sale” report released Monday by FreedomPay Inc. and Ingenico Group. have an overall positive impression of contact EMV payments, compared to only 59% for contactless EMV payments. Arlington, Va.-based Hanover Research conducted the survey for the report. It also canvassed more than 350 merchants.