Monthly spending on contactless cards has exceeded £100 million for the first time, according to data published by The UK Cards Association.
As per the new figures, the UK consumers spent a record £109.2m through their contactless cards during March 2014, up by £22.2m since February and by over 200% since the same month in 2013.
Go deeper with GlobalData
More than 370 contactless transactions are now made every minute in the UK, representing six every second.
The report noted that the number of monthly transactions has more than tripled in a year.
The UK Cards Association managing director Graham Peacop said: “Contactless technology is a fast, easy and secure way to pay by card.”
“Whether it’s to buy a cup of coffee or pay for a trip on the bus, today’s figures show that consumers are voting with their wallets and find contactless cards a very convenient way to pay.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe new data show that there are over 42.4 million contactless cards in circulation in the UK, with nearly one in three cardholders currently having a contactless card.
