Contactless card payments triple in a year
After numerous false starts involving unfriendly digital wallets it would appear the UK is finally embracing the world of the contactless payment, with those in charge of monitoring its adoption saying use of the tap-to-pay concept has tripled in the space of a year.
Thanks in part to an increase in the limit from £20 to £30 earlier this year the UK saw 120.5 million contactless card payments made in October of 2015, meaning that PIN-free money transfers made up 10.3 per cent of all card transactions that month. That’s a huge increase on the 3.7 per cent share tapped payments had of the card money shuffle market 12 months earlier.
In total, futuristic UK shoppers spent £929.8m using contactless cards in October, with the average value of a transaction hitting £7.72 — another rise from the £7.35 average seen in September, when the individual transaction limit rose to £30.