Contactless payment transactions rise by 226% in past 12 months
New figures have revealed that contactless payment transactions have increased by 226% compared to this time last year.
The data from WorldPay shows that contactless payments more than trebled between 2012 and 2013, rising from 12.5 million UK payments processed by WorldPay in December 2012 to 43.6 million UK payments in December 2013. Worldpay’s figures reveal that there are currently 38.1 million contactless cards in circulation across the UK making up 25.7% of all credit, and debit and charge cards.
The take up of contactless was found to be greatest in London with one in five people using contactless cards, closely followed by Manchester and Leeds. However, in Bristol contactless has failed to catch on with only 4% people using the technology.
In total, WorldPay customers have made more than 61 million contactless payments with a total cash value of £433 million. Latest transactional data from WorldPay shows consumer confidence in contactless has also grown with the average sale size increasing by 27% in the last two years.
Never Miss a Retail Update!Dave Hobday, managing director of WorldPay UK, said: “Contactless means being able to serve customers faster and cut down queues. Today’s shoppers’ demand speedy service, and will walk away if they don’t get it. Using contactless means you’ll never miss a sale during peak times.”
A study by WorldPay has shown that 93% of people who have used contactless payments said they found them “quick and efficient” and 60% recognised the contactless symbol.
