Contactless spending leaps 34% since the start of 2017
Contactless payments are continuing to surge in popularity, with contactless spending up by more than a third (34%) since the beginning of the year.
This is according to data released by Barclaycard today as part of its quarterly Contactless Spending Index. More than half (51%) of all transactions up to the eligible spending limit of £30 are now made using contactless.
The news comes as industry body the UK Cards Association (UKCA) reveals credit and debit payments have doubled in the past 10 years, with the increased use of contactless one of the main drivers for this growth.
Use of contactless has increased in the Midlands and the north of England more than anywhere else in the UK, with the biggest jumps in spending seen in Derby (up 45%), Chester (44%), Newcastle Upon Tyne (42%), Coventry (42%) and Stoke-on-Trent (41%).
Adam Herson, director at Barclaycard Mobile Payments, said: "Our data shows that growth in contactless spending has been surging for several years, but this latest insight is particularly significant as it shows shoppers now prefer to pay with ‘touch and go', with more than half of eligible transactions made this way."
"And with more innovation in the pipeline and a continued rise in consumer and merchant adoption, 2017 is on track to be another record-breaking year for contactless spending."
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