Contactless card transactions tops 120 million by October 2015

contactless_paymentsOne in every 10 card payments made in the UK is now contactless, suggesting that contactless payments are definitely here to stay.

Latest figures for October show that 10.3% of all card transactions were made using contactless technology, the first time the 10% milestone was passed, according to the UK Cards Association. In September, 8.9% of card payments were contactless, while a year ago just 3.7% of card payments were made with a single swipe against a reader at the till.

Some 120.5m contactless card payments took place across the UK in October, and the average value of a payment has increased to £7.72. This comes after the maximum limit for a single contactless transaction increased in September from £20 to £30.

A total of £929.8m was spent using contactless cards in October. The average value of a contactless payment is £7.72, up from £7.35 in September when the limit for a single payment rose to £30. Overall spending on debit and credit cards rose by 0.9 per cent in October to reach £53.2 billion. There were a total of 1.16 billion card transactions in the month.

Richard Koch, Head of Policy at The UK Cards Association, said, “With one in 10 card payments now contactless, it’s clearly the preferred way to pay for millions of consumers. The rise in the contactless limit to £30 earlier this year means there are now even more opportunities to make a fast, easy and secure contactless payment.”

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Categories: Contactless Payments

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