Bulletin

Touch and go transactions hit £1.5bn a month

Contactless - UK have hit a record of £1.5bn - SantanderCB

The UK Cards Association has revealed that contactless payments in the UK have hit a record £1.5bn and now account for one in seven transactions, up from one in 16 a year ago.

Monthly contactless spending has more than trebled in the past year. Contactless has risen in popularity as more shops, pubs, cafes and restaurants now accept payments without a signature or pin.

Transport for London's acceptance of the system has also accelerated uptake, as has the launch of ApplePay, which allows people to use their phones. Some 179.6m contactless purchases were made in March.

 

Note: News bulletin content has been provided by a third-party and is not the opinion of Santander.

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