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Consumer interest in contactless payments may increase with mobile-payment technology, which enables consumers to pay for purchases using their mobile devices, says Lisa Stanton, CEO of Monitise Americas LLC. Part of the challenge of contactless-payment adoption has been convincing consumers that tapping a contactless-enabled device rather than swiping a magnetic-stripe card is more convenient, she says. If consumers have access to more information or applications, such as account-balance information before payment, coupons or instant merchant-rewards programs, adoption may increase, she says. "If you enrich the experience, consumers will adopt," says Stanton. "The challenge has been convincing the consumer that they cared whether they tap or swipe," she says. "We think mobile is the missing piece of contactless." Monitise Americas is based in Providence, R.I.
