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Contactless cards are waste, says one ATM ISO
November 13, 2008
HERTFORDSHIRE, England — Ron Delnevo, managing director of Bank Machine Ltd., the U.K. independent ATM-deployer arm of Houston-based Cardtronics Inc., says consumers' low level of interest in using contactless payments makes investments in contactless technology relatively fruitless.
In a letter drafted for Richard Mould, head of contactless and card developments at Barclaycard House, Delnevo says the 6,200 contactless-payment terminals deployed in London have only averaged approximately four transactions per month per terminal since their deployment.
"Doesn't Barclays Bank have one ATM in central London that does around 30,000 transactions a month?" Delnevo asked. "A single ATM that does 50 percent more transactions than 6,200 contactless terminals?
Delnevo says the British public prefers cash, according to a recent Visa survey that revealed 59-percent of card users prefer to use cash for low-value transactions.
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