UK contactless card spending surpasses 2015 total
The UK’s contactless card spending in the first half of 2016 has already exceeded contactless spending for the whole of 2015.
The UK’s contactless card spending in the first half of 2016 has already exceeded contactless spending for the whole of 2015, according to the new figures released by the UK Cards Association.
The figures highlight that approximately £9.27bn was spent using contactless methods between January and June of 2016, which is more than the total 2015 contactless spend of £7.75bn.
About 1.1 billion contactless transactions were made during the first half of the year, compared to 1.05 billion for the whole of 2015.
According to the latest monthly card expenditure statistics, contactless card payments accounted for 18% of total purchases in June this year, which is much higher compared to 7% during June 2015.
The average contactless transaction stood at £8.60 in both May and June of this year.
The UK Cards Association head of policy Richard Koch said: “Contactless cards are firmly entrenched as the preferred way to pay for millions of consumers, who expect to be able to use them for everyday purchases.
“We anticipate the use of contactless cards will continue to increase, particularly as charities and transport operators outside London recognise the benefits this technology can bring.”
Payment card spending reached £53.1bn in June. Both spending and the number of payments rose in the second quarter of the year, with 92 million more purchases and £1.9bn more spending than in the first quarter of 2016.
In retail sector, the number of card payments surged by 5.2 million to 799 million, with the corresponding spending increasing by £134m to £25bn.