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February 27, 2014updated 04 Apr 2017 4:08pm

Contactless payments on rise in UK: WorldPay

The number of contactless payments has been soaring in the UK, with 226% more contactless transactions compared to the same period last year, according to data collected by WorldPay.

By Verdict Staff

The number of contactless payments has been soaring in the UK, with 226% more contactless transactions compared to the same period last year, according to data collected by WorldPay.

The data found that contactless payments in the UK have more than tripled (249%) since last year from 12.5 million in December 2012 to 43.6 million in December 2013.

WorldPay said that currently 38.1 million contactless cards are in use across the UK, accounting to about 25.7% of all credit, and debit and charge cards.

According to WorldPay, one in five (17%) of customers in London use contactless cards, followed by Manchester and Leeds (12%), while only 4% people use contactless cards in Bristol.

To date, WorldPay customers have completed more than 61m contactless payments with total cash worth £433m.

The transactional data from WorldPay found that consumer confidence in contactless has grown with the average sale size increasing by 27% in just two years.

The research also revealed that 93% of people who have used contactless payments find them quick and efficient, while 60% identify the contactless symbol.

According to the research, one in three people (31%) said they are irritated to pay in shops, while almost half (47%) are dissatisfied with the delay in making a card payment in a bar, café or restaurant and 65% of them would not visit again if forced to wait a long time.

WorldPay UK managing director, Dave Hobday said: "If you are a business regularly taking payments of £20 or less, installing contactless is a must for keeping your customers happier, serving them quicker, and getting as many sales as possible during peak times."

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