Paying without a debit card is gaining more and more ground. Paying with a smartphone, smartwatch or other wearable is starting to catch up with paying with a debit card.
According to the Dutch Payments Association, the growing success of contactless payments is partly due to the introduction of Apple Pay and Google Pay. It is inevitable that paying with a smartphone will eventually gain the upper hand. Especially if all mobile phones are equipped with a near-field communication (NFC) chip, which is already the case with all new mobile phones. There are already Dutch banks that offer their customers the option to pay contactless with a wearable, such as a ring, bracelet or watch strap with a built-in chip.
In July 2021, 86 percent of all debit card payments were contactless. 1 in 5 of these contactless payments were made with a device. The corona pandemic has further promoted the growth of contactless payments, because many customers no longer want to touch a PIN device.
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