British pub-goers embrace higher contactless spending limit

public barLatest figures from Visa Europe show that the UK’s decision to increase the contactless spending limit from £20 to £30 six months ago has proved popular, particularly with those customers in the pub. Contactless transactions over £20 saw an average monthly growth rate of 19.1% between October 2015 and March 2016, double the growth rate of tap and pay under £20.

In total, contactless usage between £20 and £30 now account for more than 10% of all face-to-face card transactions within that spending band.

Bars and pubs have seen a surge in contactless transactions in the £20 to £30 band. Average weekly growth was 30% between October 2015 and March 2016. This compares to growth of only three per cent for contactless purchases under £20, suggesting larger rounds or more expensive bottles of wine are now being bought via tap and go.

In supermarkets, where the average basket is £25, the data shows a 100% increase in contactless transactions compared to the six months before the £30 limit was introduced. Restaurants have enjoyed a similar boost as a meal for two has come more into range when paying this way – spend there has risen 155%.

Similarly, consumers have turned to contactless when filling up their cars at service stations. The average contactless transaction at the pump has increased by £2.22 since the £30 limit began, rising from £8.47 to £10.69.

Kevin Jenkins, MD, UK and Ireland, Visa Europe, said “Overall, we have seen 36 million contactless transactions over £20 in the first six months; which amounts to nearly £900m of transactions made easily and safely, in less time, freeing consumers from the need to carry cash.”

Tags: , ,

Categories: Contactless Payments

CONNECT with Contactless Intelligence

Connect with us here

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: