The popularity in contactless technology is showing no signs of slowing down. Reports show that in London, almost 50% of card payments under £30 are now contactless. The amount being spent by customers rose by 163%.
London leads the way with the popular contactless technology. Outside London, Manchester was the biggest climber with a rise of 325% with Birmingham, Edinburgh, York and Glasgow seeing prominent rises.
Contactless cards are becoming increasingly commonplace
UK bars, restaurants and pubs saw a good return on customers opting to use contactless technology with a significant rise of almost 80%. It is now reported that 50% of Brits opt to pay using contactless technology at least once a month according to a recent report produced by ‘Barclaycard Contactless Spending Index’, and they expect this to rise by 20% in the next 12 months.
Overall, London still continues to lead the way for contactless usage, with almost half (47%) of all eligible transactions (up to the £30 limit) now being contactless – up from 3 in 10 in 2014.
New research has shown that on average, almost one in two of British consumers now carry less than £5 in cash, and many feel this is a result of the introduction of contactless technology and people adopting to pay by Apple and Android pay. Contactless payments are becoming increasingly commonplace, with 17.3 billion contactless transactions made last year in Britain the ‘touch and go’ payment style is becoming second nature to consumers. 25% of these people surveyed stated they wanted to ditch their wallet or purse with 14% stating they’d stopped carrying cash already.
London still continues to lead the way for contactless usage
Customers using contactless cards can complete transactions faster than the traditional Chip and PIN method and are declining to carrying cash. How has your spending habits changed in the last 12 months with contactless technology? We’d love to know your thoughts on the matter.
Could your business benefit from using a contactless card machine to accept debit and credit card payments? Take advantage of the rise in contactless technology by upgrading to one of Wireless Terminal Solutions’ contactless terminals. We supply the latest in contactless technology and have a card machine to suit all environments, and WTS are accredited to work with every acquirer. Speak to one of our advisors today and see how our contactless terminals could benefit your business.