Retailers “Warned” to Embrace Contactless Payments

The past 12 months in UK saw a rising use of contactless payments. This means that retailers that do not use this method of payment are going to be “left behind”.

Worldpay’s data shows that the number of UK contactless transactions processed by them rose by 160 percent in 2015, with monthly payments using the technology peaking at 45 million, and that it has processed over 4 billion pounds in contactless transactions since 2012.

“The UK has been a trailblazer for contactless adoption, and we’re seeing that play out today as the technology plants itself firmly in the mainstream. Raising the limit on contactless to 30 pounds opened the floodgates by broadening the opportunities for consumers to use the technology, but it’s far from the end of the story. Contactless cards may have paved the way for the enormous surge in tap and go payments we’re seeing today, but the next 12 months will be defined by how consumers take to paying for goods on their smartphones – especially with features such as High Value Contactless.”

Dave Hobday, UK managing director of Worldpay

According to the UK Cards Association, nearly one in eight payments in the UK is now carried out via contactless payment, and in 2015, there were more than one billion contactless payments made in the UK.