Contactless technology has been heavily promoted in recent times, first the spending cap was raised to £30 from £20, then the data was revealed showing more consumers were ditching traditional payments, with over £2 billion being spent in the first six months of the year via contactless cards.
More recently, the TfL said over 180 million journeys have been made using contactless payments on London’s transport network in the first year since its launch. That astounding amount of journeys breaks down to 625,000 contactless journeys per day, 20 per cent of all pay-as-you-go and one in seven of all contactless transactions.
Given these staggering figures, it’s no surprise that TfL has continued to extol the virtues of contactless technology. In the videos below, it highlights the financial benefits of the technology, where it can be used as well as the finance management options that come as a bonus of contactless card technology.
This follows on from earlier videos that aimed to highlight the financial bonuses of using contactless technology. From cheaper rates to finance management tools.
Mastercard partners with Apple on Apple Pay’s Spain launch and rolls out selfie payments in Latin America
The American tech giant has launched its mobile payment service, Apple Pay, in Spain, partnering with Mastercard, Carrefour and American Express.
Payment terminals have stayed the same over the last 10 years, with steady advances in contactless and mobile wallet transactions. Retailers and brands are making a conscious effort to get closer to consumers.
ING has announced that it is scrapping Twyp, its peer-to-peer payments app, in the Netherlands following negative feedback from its customers.
Stripe, the biggest fintech company in the US, is about to consolidate its position at the top by almost doubling its valuation to $9.2 billion following Series D funding.