UK contactless card spending crosses £1.5bn mark in month for first time
Contactless card spending in the UK has crossed £1.5bn in a month for the first time, according to a report released by the UKCA
The industry trade body said that contactless payments totalled a record £1.508bn in March.
One in seven of all card transactions are now contactless, compared to one in 16 a year ago. The report said that there were a total of 179.6 million contactless purchases in March, with 67 transactions made every second.
Overall, total payment card spending was £51.9bn in March, with 1.18 billion transactions in the month.
The UK Cards Association head of policy Richard Koch said: “It took almost eight years for monthly contactless spending to reach half a billion pounds – now it’s grown by the same amount in just four months.
“This dramatic rise shows that paying with contactless is now second nature for millions of consumers who see it as an alternative to cash.
“Contactless cards are already being used to pay for travel and to donate to charity and as the technology evolves, we will see even more environments where contactless will enable fast, easy and secure payments.”