Contactless Payments in Danger of Actually Taking Off

By Gary Cutlack on at

The years of relentless pressure to slightly change our shopping habits appears to be working, at last, with stats showing that contactless payments are on the up by quite a margin.

It's thanks to more retailers -- including all of the big supermarkets now -- accepting the PIN-less card and app payments, but also to a slight change in the way we actually shop. According to Barclaycard's analysis we're not so into the idea of the "big shop" and buying everything we need for a week any more, probably because we're all too poor and busy to do anything other than spend £3 a day on discounted products, so we tap-tap-tap away in small amounts, shopping hand-to-mouth style.

Barclaycard says it reckons contactless grocery shopping grew by 136 per cent in value over the last 12 months, helped in part by the rise in the contactless limit to £30. Including everything as well as food and lunch shopping, the UK Cards Association  says £25 billion of spending was done through contactless methods in 2016, a huge leap up from £7.75 billion in 2015.

And Worldpay, another contactless aggregator, says 38 million transactions were made through a mobile phone last year, primarily people in cities buying their lunch to see if it works. [Finextra, Grocer]

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