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One in 10 card transactions now contactless

One in 10 card transactions now contactless

Contactless card transactions now account for one in 10 card payments, the first time the milestone has been passed, latest figures from The UK Cards Association show.

There were 120.5 million contactless card payments in October in the UK, meaning that 10.3% of all card transactions were made using contactless. This has risen from just 3.7% a year ago. A total of £929.8 million was spent using contactless cards in October.

UK contactless spending statistics

UK contactless spending statistics

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% 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.”

The post One in 10 card transactions now contactless appeared first on Payments Cards & Mobile.

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