Contactless spending leaps 34 percent since the start of 2017

Monday 19 June 2017 13:26 CET | News

Data released by Barclaycard as part of its quarterly Contactless Spending Index shows that contactless spending leaps 34% since the start of 2017.

This latest insight reveals ‘touch and go’ is now the preferred way to pay among British shoppers. More than half (51%) of all transactions up to the eligible spending limit of GBP 30 are now made using contactless, which shaves seven seconds off the time taken to process a transaction compared to chip-and-PIN.

The news comes as industry body, The UK Cards Association (UKCA), reveals that credit and debit payments have doubled in the last 10 years with the increased use of contactless as one of the main drivers for this growth. While contactless card transactions have been continuing to grow over the past few years, data from the Index shows that mobile payments are now also catching on at a rapid rate with the amount spent by users of Barclaycard’s Android Contactless Mobile app jumping by 90% in 2017.

Shoppers in the midlands and the north of England are increasing their use of contactless more than anywhere else in the UK, with the biggest jumps in spending seen in Derby (up 45%), Chester (up 44%), Newcastle Upon Tyne (up 42%), Coventry (up 42%) and Stoke on Trent (up 41%)

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Keywords: Barclaycard, contactless payments, UK, Contactless Spending Index, payments
Categories: Payments & Commerce | Mobile Payments
Countries: World
This article is part of category

Payments & Commerce