Contactless payments continue to take off

13 June 2016
Contactless payments continue

There's no two ways about it - everyone is taking up contactless payments.

A new report from The UK Cards Association shows that more consumers are choosing to pay with this method than ever before.

£7.75 billion was spent using contactless cards in 2015, helped by the upping of the limit to £30, increased visibility of where it is accepted in shops, and of course, the number of contactless cards available.

Contactless ticketing, especially in London on the TfL, has been widely adopted too, and other local authorities are aiming to adopt systems.

Being able to make contactless payments with your phone, smartbands, smartwatches and the rest, is only helping to increase the volume of these payments being made.

Graham Peacop of The UK Cards Association commented: "With the amount spent using contactless cards almost trebling between 2014 and 2015 and the payment limit increasing to £30, it is clear 2015 was the year contactless went mainstream."

"Whether buying a sandwich on the go, or paying for a round of drinks or a tube journey, contactless has become the default way people choose to pay for every day shopping."

"Consumers are increasingly using their cards, and especially their contactless cards, for smaller and smaller purchases. With such convenience and flexibility, payment cards will continue to play a central role in the future."

TOPICS:   Banking

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