“The U.S. Payments Forum today released its latest Market Snapshot. It provides an overview of the state of the industry including successes in tap-to-pay and tap-to-phone transactions, up-and-coming payment verticals and growing concerns in the card-not-present (CNP) fraud space. The snapshot also provides an update on global chip supply challenges from a payments perspective and explores concerns regarding recent payment regulations, and momentum with regard to alternative payment methods. This industry update is an amalgamation of information gathered during the Forum’s recent All Member Meeting in Nashville, Tennessee. The event brought together more than 242 global payment leaders representing top payment networks, merchants, issuers, processors and acquirers.”

“The U.S. Payments Forum, a subsect of the Secure Technology Alliance, today released its latest Market Snapshot. It provides an overview of the state of the industry including contactless payments’ role in the post-pandemic economy, digital wallet growth, alternative payment rails and mounting fraud concerns. The snapshot also explores advancements in faster payments, open payments for electric vehicle (EV) charging, PCI DSS compliance standards and current challenges facing the payments stakeholdership….Discover Global Network is reporting a 62% year-over-year (YOY) increase in contactless transaction volume in the U.S. and U.S. Territories. Contactless sales volume in this region has increased a staggering 107% YOY. Mastercard is observing an over 100% YOY increase in both transaction counts and spend for contactless, with 82% of all card-present transactions happening at contactless enabled locations.”