Business Services

Contactless cards claim one in seven sales

Contactless Payment Card, 1 in 7 Sales Now Through Contactless Payment - SantanderCB

Visa Europe has revealed that contactless payment readers are now used in one in seven sales in Britain, up from just one in 25 a year ago. Much of the increase has come from the introduction of Oyster cards on London's public transport network, but Visa Europe says the technology had already spread far beyond the capital's buses and trains. The data shows that 60% of contactless transactions now take place outside the M25, and Visa Europe predicts that cash will be seen as a peculiar way of paying for things in as little as five years' time. There was a 9.6% increase in overall point-of-sale spend in the UK, in Visa Europe's annual report for the financial year ended June 2015. Almost 460,000 terminals across all of the UK are now ready for face-to-face contactless and mobile payments. Payments Council figures also show that cashless payments overtook notes and coins last year.


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