The launch of AlliancePay physical payment cards has resulted in a major 190.8% increase in card adoption and usage, a mere 12 days after the first proof-of-concept transaction conducted with a payment card.
In less than one fortnight, the number of approved card authorisations per day has climbed from an average 2.60 to 7.58, evidencing the dramatic rise in merchant card acceptance and the appreciable increase in the number of global points of sale where cards can be used.
The AlliancePay physical payment cards that are now in circulation contain a contactless capability, allowing certain transactions to be undertaken without a Personal Identification Number (PIN) in some countries.
Finnish saunas among purchase choices
Current cardholders who have successfully paid for items contactlessly with their payment cards have done so at merchants such as restaurants, coffee shops, grocery stores, clothing retailers, and even Finnish saunas. One cardholder even managed to use his card tens of thousands of feet above the Earth to purchase airline merchandise aboard a flight to Europe.
Transactions requiring PINs have been successful at a wider range of merchants and stores across the globe, given the enhanced security features afforded by the EMV chip. Less than four days after cardholders commenced with PIN registration, physical card usage is dramatically proliferating.
The range of new types of merchants where cards are resulting in successful transactions include pharmacies, taverns, petrol stations, wholesale clubs, convenience stores, public bathrooms, vending machines, and hotels.
Twenty-seven currencies covered by AlliancePay
Similarly, transactions have been successfully settled in two additional currencies – including the UAE dirham – that had not been previously settled during the previous online-shopping-only phase with digital cards. The expansion in approved transactions in foreign currencies has increased the total number of currencies involved in settled transactions to 27 since late June.
The increased card adoption and usage has taken place despite physical card distribution remaining limited during this proof-of-concept phase. As more community members receive their cards over the coming weeks, adoption and usage are likely to expand even further.