UK contactless spend soars five-fold in past year

UK Contactless spend has grown fivefold in the last year with consumers making 51 million contactless purchases in the past 12 months.

UK Contactless spend has grown fivefold in the last year with consumers making 51 million contactless purchases in the past 12 months.

The UK’s monthly contactless spend soared to £45.2m ($70.8m) in June 2013 compared to just £8.6m in the same month last year.

Since Visa launched its ad campaign starring athlete Usain Bolt, £338m has been spent on contactless Visa cards in the UK, with an average spend of £6.65.

Mark Austin, Vice President and Head of Contactless at Visa Europe said: "A year ago we launched the Contactless 2012 campaign to raise public awareness of contactless technology and the convenience and flexibility it brings to day to day payments.

"We are delighted to see the technology now being used so frequently on the high street as consumers become confident in making every day contactless payments and we’re excited about the number of new shops due to roll out contactless payment in the remainder of 2013."

Contactless technology allows users to pay for purchases of £20 or less by tapping their card to a card reader at the point of sale.

There are now over 28 million Visa contactless cards and 280,000 contactless terminals in the UK.

The use of contactless payments was given a major boost when London buses began to offer the service in December; since then more than 3 million journeys have been made using contactless payments.

 

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