El Corte Inglés has received Visa Europe’s certification to implement contactless
This is the first step towards a future system that will allow contactless payments with smartphones and other suitable devices
payments in all its shopping centres. From now on, and for all contactless payments, cardholders won’t have to hand the card to shop assistants. These payments will also be possible from NFC mobile phones.
In order to implement contactless payments, El Corte Inglés has installed more than 5,200 new terminals, specifically adapted for this technology in all of its shopping centers, which currently represents 25% of its total, a figure that is expected to exceed 60% by the end of 2014.
Contactless payments are a reality in Spain where this technology has reached an increasingly critical mass. Last November up to 2.1 million Visa contactless transactions took place in Spain (+397% compared to the same period last year) and generated a total spend volume of €67.2 million, 369% more than in November 2012.
In November there were over 347,000 contactless POS terminals already installed. Visa Europe expects to reach over 50% penetration of contactless payments at large retailers and malls by the end of 2014. Also, on that month Visa reached a total of 5 million contactless cards (234% more than the same month of the previous year). This figure is expected to reach 10 million in Spain by the end of 2014.
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