Contactless payments more popular than ever before

New research has shown that contactless payments in UK shops are now more popular than chip and Pin card payments.

Payments technology company Worldpay, which processes payments for large retailers as well as small businesses, said it was the first time it has seen “tap and go” contactless payments overtake chip and Pin.

The switch-over happened in June, when 51 per cent of in-store card transactions in that month were contactless.

This rose further to 52 per cent in July.

Worldpay added that contactless usage jumped by around 30 per cent in stores between June 2017 and June 2018.

The popularity of contactless has surged in recent years following increases to spending limits as well as a rapid expansion in places where it can be used.

The current limit for single contactless card transactions is £30.

Worldpay said fashion retailers have seen a particularly big shift from chip and Pin to contactless, while betting shops and department stores have seen significant increases in mobile contactless payments.

“The rise of contactless is part of a bigger story: it’s not simply about tap and go – it’s about convenience and reducing the parts of the shopping experience that customers find irritating, like queuing and waiting to pay,” Worldpay executive vice president Steve Newton said.

Click here to sign up to Retail Gazette‘s free daily email newsletter


Please enter your comment!
Please enter your name here