Think about this: Every time you reach the checkout in some of the world’s largest supermarket chains, the cashier asks, “Do you have your loyalty card?” You hand it over, they swipe it, and hand it back to you. If you don’t have one, the cashier sometimes invites you to enter your phone number, which achieves the same thing. Or if you’ve never applied for their card, they will invite you to do so right then. That whole process takes lots of time at the checkout. And if you're like me and don't like having lots of cards in your wallet, it is frustrating to constantly have to go through the hassle.
If speed is the holy grail at the checkout, why in the world are merchants doing this? If merchants really valued speed at the moment of payment, they would quickly eliminate this whole tedious process. Some merchants clearly value data gathering over speed. They can live with slower transactions if they can get their hands on valuable customer data.
This is especially relevant if you are planning a contactless deployment. Contactless just for speed doesn’t make sense. Contactless that also uses the chip to make customer behaviour data available at the moment of payment, which merchants can use to instantly trigger targeted promotional offers, makes much more sense and makes contactless much more valuable to merchants.