News

Customer Behaviour

Contactless payments have become more popular than chip-and-pin card transactions for the first time in the UK, according to a major payment processing company.

Worldpay said it happened in June, when 51% of in-store card transactions were contactless, rising to 52% in July. Analysis of the company’s data showed that use of the newer payment method jumped by 30% between June 2017 and June 2018.

The popularity of contactless has increased as the upper limit on transactions has risen to £30 while the number of businesses accepting the payment method has grown.

Steve Newton, executive vice president at Worldpay, said: “The rise of contactless is part of a bigger story: it’s not simply about tap and go – it’s about convenience and reducing the parts of the shopping experience that customers find irritating, like queuing and waiting to pay.”

Worldpay processes payments for a number of large and small businesses across the world and says it accounts for more than two-fifths of all UK card payments.

You may also like...

Keep Up To Date - Subscribe To Our Email Newsletter Today

Get the latest industry news direct to your inbox on all your devices.

We may use your information to send you details about goods and services which we feel may be of interest to you. We will process your data in accordance with our Privacy Policy as displayed on our parent website https://ebm.media