Contactless payments adoption increases in the UK

Tuesday 19 March 2019 13:12 CET | News

UK Finance has released data showing that more than 40% of all debit and credit transactions in the UK were processed using contactless technology in 2018.

A total of nearly 7.4 billion contactless transactions were made in 2018, an increase of 31% compared to 2017. This surge in contactless payments was primarily attributed to growing adoption of this technology on public transport and retailers.

Currently, the limit for contactless payments without entering a four-digit PIN stands at GBP 30 in the UK. A PIN must be used for transactions over this limit. However, the average spend on any transaction using debit or credit card was GBP 35.

In 2018, UK-based consumers spent GBP 584 billion using debit cards, a rise of 3.7% compared to 2017. Moreover, the total credit card spending added up to GBP 192 billion, an increase of 7.8%.

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Keywords: UK Finance, cards, contactless payments, The UK, debit card, credit card
Countries: World

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