Nine in 10 eligible card transactions in 2021 were contactless
Written by First Choice Radio on 26 January 2022
That’s according to data from Barclaycard
Around nine in 10 eligible card transactions in 2021 were contactless, according to data from Barclaycard.
Some 91.1% payments where “tap and go” would have been an option were in fact contactless.
This was up from 88.6% of eligible transactions in 2020.
An increase in the contactless transaction limit from £45 to £100 in October 2021 helped to boost the figures.
Jose Carvalho, head of consumer products at Barclaycard said: “Our data shows that many shoppers have welcomed the £100 increase to the contactless limit and are now choosing to pay this way for goods and services in store.”
Individually, the average contactless user made 180 contactless payments in 2021, worth a total of £2,293.
This was an increase from 2020, when users made on average 141 payments worth £1,640 according to Barclaycard, which sees nearly half of the nation’s credit and debit card transactions.
Significant increases in contactless use were recorded across several sectors, including the entertainment sector which includes cinemas and bowling alleys; bars, pubs and clubs; clothing retailers; and takeaways and fast food outlets.
Contactless payments are on average seven seconds quicker per transaction than using chip and pin and 15 seconds faster than using cash, Barclaycard said.
Rob Cameron, chief executive of Barclaycard Payments, said: “Speed at the checkout will often avoid shoppers going elsewhere.”
Thursday December 23 was also pinpointed as the busiest day for contactless transactions, as Christmas shoppers rushed to make last-minute purchases.
Published: by Radio NewsHub