Inserting cards, entering pin codes and signing receipts are a thing of the past in countries that have embraced contactless payments. The world's biggest economy, however, is just starting to catch on to the trend.
For many foreign tourists visiting the U.S., checking out at the register feels like a trip back in time.An estimated 3% of cards in force in the U.S. are contactless, according to a study published in 2018 by consultancy A.T. Kearney. That compares with roughly 64% in the U.K. and as high as 96% in South Korea.
"It means that it's much easier to coordinate change for the industry in the U.K.," said Adrian Buckle, head of research at industry group UK Finance, in an interview with CNBC last week. Last year, J.P. Morgan's Chase said it would start issuing contactless cards to millions of its customers, and Visa expects more than 100 million cards will be in the hands of American consumers by the end of the year.
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