226 per cent surge in UK contactless payment transactions

226 per cent surge in UK contactless payment transactions
image(c)iStockphoto.com/audioundwerbung

By Michael Somerville - 11:34AM - Thu 27th February 2014

Contactless payment transactions have surged by 226 per cent year-on-year according to a leading payment service provider.

WorldPay found that London led the way with contactless payments as 17 per cent of shoppers use the service while Bristol was the lowest (4 per cent.) The capital now accounts for a third of all contactless payments made in the UK and Ireland.

There are currently 38.1m contactless cards in circulation across the UK – about a quarter of all credit, debit and charge cards. WorldPay say they processed 43.6m UK payments in December 2013 up from 12.5m in December 2012.

Aldi, Ikea and WHSmith are amongst a string of retailers who accept contactless payments.

“Contactless means being able to serve customers faster and cut down queues. Today’s shoppers’ demand speedy service, and will walk away if they don’t get it,” commented Dave Hobday, Managing Director of WorldPay UK. “Using contactless means you’ll never miss a sale during peak times. Not using contactless means you are out of touch with what your customers want”.

According to research from WorldPay, one in three people (31 per cent) said they are irritated by how long it can take to pay in shops.

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