UK contactless spending triples year-on-year

contactless card

Contactless spending has increased 150 per cent by value and 134 per cent by volume in the last 12 months, according to new research from Barclaycard.

Women now account for 45 per cent of contactless customers, compared to 36 per cent at the end of 2014. In addition, 50 per cent of contactless users are now aged 50 or over.

Brits pay contactless most often at supermarkets, followed by restaurants and on commuter transport.

Leeds is leading the charge on contactless growth, with year-on-year spending in the city up 211 per cent, while London, where 40 per cent of eligible transactions are made contactless, held the top spot for penetration.

contactless city

Tami Hargreaves, head of contactless at Barclaycard, said: “From the credit card and chip in pin to contactless and mobile payments, Brits are renowned as fast adopters of new technologies that make our lives easier. Our data underlines this trend and shows that ‘touch and go’ is fast becoming a favourite way to pay as both shoppers and retailers value the speed and ease it brings.”

This research coincides with the rollout of a £10 increase in the contactless limit across the UK, from £20 to £30. According to Barclaycard almost six in ten of their customers intend to take advantage of the change.

Hargreaves continued: “Over the next year we expect the limit increase alongside the forthcoming launch of High Value Payments — where contactless transactions over £30 can be made using a mobile device combined with Chip and PIN authorisation — to drive this growth even further. Ultimately, the uptake of contactless spending is a ‘win-win’ for consumers and businesses alike.”

Related reading

europe at night illuminated by electricity
berlin challenger bank
london city hall with people walking in front of it
red tinted image showing different roads intercrossing each other

Leave a comment