{"id":522279,"date":"2021-08-03T11:24:01","date_gmt":"2021-08-03T15:24:01","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/tap-to-pay-becomes-part-of-new-norm-in-latin-america-and-the-caribbean-1-in-4-in-person-transactions-are-now-contactless\/"},"modified":"2021-08-03T11:24:01","modified_gmt":"2021-08-03T15:24:01","slug":"tap-to-pay-becomes-part-of-new-norm-in-latin-america-and-the-caribbean-1-in-4-in-person-transactions-are-now-contactless","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/tap-to-pay-becomes-part-of-new-norm-in-latin-america-and-the-caribbean-1-in-4-in-person-transactions-are-now-contactless\/","title":{"rendered":"Tap to Pay Becomes Part of New Norm in Latin America and the Caribbean: 1 in 4 in-person transactions are now contactless"},"content":{"rendered":"

<\/p>\n

Tap to Pay Becomes Part of New Norm in Latin America and the Caribbean: 1 in 4 in-person transactions are now contactless<\/b><\/p>\n

Consumers in Latin America and the Caribbean are choosing contactless for its clear benefits: touch free, fast, convenient, and secure<\/i><\/p>\n

MIAMI–(BUSINESS WIRE<\/a>)–
\nToday Visa announced a new milestone for its digital solutions in Latin America and the Caribbean, as of June 2021, the company reached 25% contactless adoption in the region, which means one out of every four face-to-face transactions is now contactless. There are also five countries above the 50% adoption threshold: Chile, Costa Rica, Panama, Guatemala, and Bermuda \u2013 and markets like Peru and Colombia follow suit with more than 40% contactless penetration. Consumer preference is clearly a result of contactless payments enabling a fast, convenient, safe and secure experience without the need for consumers to touch the checkout terminal.\n<\/p>\n

This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20210803005834\/en\/<\/a><\/p>\n

\"Tap<\/p>\n

Tap to Pay with Visa (Photo: Business Wire)<\/p>\n<\/div>\n

\n\u201cWe embarked on this contactless transformation journey back in 2018, because we truly believed migrating to contactless and its underlying technology had the power to be a catalyst for the next generation of payments in our region,\u201d said Ricardo Tafur, Vice President of Consumer Products for Visa Latin America and the Caribbean. \u201cThe pandemic certainly resulted in an acceleration of our efforts that were already underway, and from June 2019 to June 2021, we moved from 4% to 25% face-to-face contactless penetration in our region \u2013 all of us at Visa feel great about this accomplishment.\u201d\n<\/p>\n

\nAcross the Latin America and Caribbean region, consumers and businesses alike have embraced contactless payments because of their speed and convenience. But convenience is not the only factor for the popularity; contactless cards are also secure and provide strong protection against fraud. Using the same secure technology as EMV\u00ae Chip, contactless cards are extremely effective in preventing counterfeit fraud by using a one-time use code that prevents compromised data from being re-used for fraud. In fact, contactless cards experience among the lowest fraud rates of any type of payment\u2014significantly lower than magnetic stripe cards and comparable to conventional chip cards.\n<\/p>\n

\nAs the world experienced an unprecedented shift toward digital commerce over the last year, tokenization is becoming one of the most effective ways to avoid fraud and allow for more secure and easy digital payment experiences. This invisible technology replaces sensitive card account details with a digital identifier, or “tokens\u201d that are more protected against fraudsters. So, whether a consumer is paying with a contactless card, digital wallet or wearable, Visa\u2019s security layers are protecting the underlying transaction every step of the way.\n<\/p>\n

\nVisa will continue to work closely with bank, merchant, government and fintech partners in the region to build on this momentum and continue to drive adoption of contactless payments in the region, especially in new and niche sectors like urban mobility for instance. As a company Visa remains committed to its core mission to connect the world to enable individuals, businesses, and economies to thrive.\n<\/p>\n

About Visa Inc.<\/b><\/p>\n

\nVisa Inc. (NYSE: V) is the world\u2019s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network – enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company\u2019s relentless focus on innovation is a catalyst for the rapid growth of digital commerce on any device for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit About Visa<\/a>, visa.com\/blog<\/a> and @VisaNews<\/a>.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210803005834\/en\/<\/a><\/span><\/p>\n

\nCatalina Bantula
\n
cbantula@visa.com<\/a><\/p>\n

KEYWORDS:<\/b> North America United States Caribbean South America Central America Florida<\/p>\n

INDUSTRY KEYWORDS:<\/b> Discount\/Variety Department Stores Other Retail Finance Banking Supermarket Professional Services Convenience Store Restaurant\/Bar Retail<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Photo<\/b><\/font><\/td>\n<\/tr>\n
\"Photo\"<\/td>\n<\/tr>\n
Tap to Pay with Visa (Photo: Business Wire)<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Tap to Pay Becomes Part of New Norm in Latin America and the Caribbean: 1 in 4 in-person transactions are now contactless Consumers in Latin America and the Caribbean are choosing contactless for its clear benefits: touch free, fast, convenient, and secure MIAMI–(BUSINESS WIRE)– Today Visa announced a new milestone for its digital solutions in Latin America and the Caribbean, as of June 2021, the company reached 25% contactless adoption in the region, which means one out of every four face-to-face transactions is now contactless. There are also five countries above the 50% adoption threshold: Chile, Costa Rica, Panama, Guatemala, and Bermuda \u2013 and markets like Peru and Colombia follow suit with more than 40% contactless penetration. Consumer preference is … <\/p>\n

Continue reading “Tap to Pay Becomes Part of New Norm in Latin America and the Caribbean: 1 in 4 in-person transactions are now contactless”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-522279","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nTap to Pay Becomes Part of New Norm in Latin America and the Caribbean: 1 in 4 in-person transactions are now contactless - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/tap-to-pay-becomes-part-of-new-norm-in-latin-america-and-the-caribbean-1-in-4-in-person-transactions-are-now-contactless\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tap to Pay Becomes Part of New Norm in Latin America and the Caribbean: 1 in 4 in-person transactions are now contactless - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Tap to Pay Becomes Part of New Norm in Latin America and the Caribbean: 1 in 4 in-person transactions are now contactless Consumers in Latin America and the Caribbean are choosing contactless for its clear benefits: touch free, fast, convenient, and secure MIAMI–(BUSINESS WIRE)– Today Visa announced a new milestone for its digital solutions in Latin America and the Caribbean, as of June 2021, the company reached 25% contactless adoption in the region, which means one out of every four face-to-face transactions is now contactless. 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