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UK consumers are ahead of the curve on contactless payments

Contactless Payment Cards, UK Population see a Surge in Popularity - SantanderCB

Research from Payments UK has revealed a surge in popularity for contactless payments, real-time payments and mobile banking among British consumers, who appear more enamoured by the technology than those in North America. By the end of 2015, 3.2m UK consumers had signed up for Paym or mobile banking services, while 41% of UK debit cards had a contactless function, compared with 26% in Canada, and 23% in the US. The report notes that the UK was the first country to introduce global chip and PIN technology, which has still not been completed in the US. The report also found that the number of debit cards in China more than doubled between 2010 and 2014, that direct debits are twice as popular in Germany as in the UK and 200 times more popular in Britain than Russia.

 

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

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