Contactless payments surge in UK, says Visa Europe report

Almost 20 million contactless transactions across the UK in May 2014, an 18% increase on April 2014, according to Visa Europe figures.

Contactless payments surge in UK, says Visa Europe report

Consumers made almost 20 million contactless transactions across the UK in May 2014, an 18% increase on April 2014, as per figures released by Visa Europe.

According to the report, more than 37.8 million contactless cards have now been issued by UK banks, a 35% increase from the same period in 2013.

The total value of transactions made by contactless cards in the UK during May stood at £126.7m, up by 14% compared to April 2014 and up 189% since May 2013.

For contactless cards, the average UK transaction value in May 2014 was £6.43, with an increase of 34 pence per transaction since May 2013, where contactless payments averaged £6.09 per transaction.

Visa Europe’s data also shows that the UK’s top 30 retailers are helping to drive use of the payment method and they accounted for 67% of all contactless payments in May 2014.

Visa Europe contactless director Mark Austin said: “Growth in Visa contactless payments is accelerating at a phenomenal pace.

“Driven by increased consumer awareness, the commitment of UK banks to issue Visa contactless cards and UK retailers activating contactless terminals, Visa contactless payments have reached record highs in the past few months.”