Contactless payments soar by 140%
The news that the use of contactless payment cards has soared by 140% in the past year underlines that this payment option continues to grow
At Fujitsu, we expect contactless payments to be an increasingly important feature in the British payments landscape. They now make up around a third of all plastic card transactions, up from around 10% just a couple of years ago. Many users find their convenience and ease of use attractive, while retailers value the fact that they are quick to use, secure and a relatively cheap alternative to other forms of payment.
We expect the growth in plastic card usage and contactless payments to continue, driven by three key developments: the continued growth in internet shopping; a growing acceptance of this payment option, with around two-thirds of retail outlets now accepting contactless transactions; and greater consumer comfort in using contactless options.