According to figures released by Visa Europe, the use of contactless cards to make payments has continued to grow month on month in the UK.
More than 37.8 million contactless cards have now been issued by UK banks, a 35% increase on the same period last year, also consumers made almost 20 million contactless transactions across the UK in May 2014, an 18% increase on April 2014 alone.
May 2014 also set a new record for the total value of transactions made by contactless cards in the UK in a single month, reaching GBP126.7 million, a 14% increase on April 2014.
The average UK transaction value for contactless cards in May 2014 was GBP6.43, whereas in May 2013 contactless payments averaged GBP6.09 per transaction.
Visa Europe’s data shows that in addition to increased usage by consumers and greater issuing of contactless cards from banks, the UK’s top 30 retailers are helping to drive use of the payment method.
Mark Austin, Director of Contactless at Visa Europe, said: “Growth in Visa contactless payments is accelerating at a phenomenal pace. Driven by increased consumer awareness, the commitment of UK banks to issue Visa contactless cards and UK retailers activating contactless terminals, Visa contactless payments have reached record highs in the past few months. The pace of growth has been particularly exciting to see, as consumers experience the value, speed and convenience that Visa contactless payments deliver.”
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Just under twenty percent of all card purchases are now being made on contactless cards, according to new data from the UK Cards Association.