‘Touch and go’ payments continue to make huge spending jumps, increasing by more than a third (34%) since the start of 2017, according to Barclaycard Contactless Spending Index.
More than half of in-store card payments up to the eligible spending limit of £30 are now made using contactless, which shaves off seven seconds of the time taken to process a transaction compared to a chip and PIN, which could speed up service at a busy bar.
While contactless card transactions have been continuing to grow over the past few years, data from the Index shows that mobile payments are now also catching on at a rapid rate with the amount spent by users of Barclaycard’s Android Contactless Mobile app jumping by 90% in 2017.
This comes as industry body The UK Cards Association (UKCA) reveals that credit and debit payments have doubled in the last 10 years, with the increased use of contactless one of the main drivers for this growth.
“Our data shows that growth in contactless spending has been surging for several years”, says Adam Herson, director at Barclaycard mobile payment, “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. This saves shoppers valuable time at the check-out and makes buying goods and services far more convenient too.”
Shoppers in the midlands and the north of England are increasing their use of contactless more than anywhere else in the UK, in Derby (up 45%), Chester (up 44%), Newcastle upon Tyne (up 42%), Coventry (up 42%) and Stoke on Trent (up 41%).