Contactless card transactions now account for one in 10 card payments, the first time the milestone has been passed, the latest figures from The UK Cards Association show.
There were 120.5 million contactless card payments in October in the UK, which means that 10.3 per cent of all card transactions were made using a contactless card. This has risen from just 3.7 per cent a year ago.
A total of £929.8m was spent using contactless cards in October. The average value of a contactless payment is £7.72, up from £7.35 in September when the limit for a single payment rose to £30.
Overall spending on debit and credit cards rose by 0.9 per cent in October to reach £53.2 billion. There were a total of 1.16 billion card transactions in the month.
Richard Koch, Head of Policy at The UK Cards Association, said:
“With one in 10 card payments now contactless, it’s clearly the preferred way to pay for millions of consumers. The rise in the contactless limit to £30 earlier this year means there are now even more opportunities to make a fast, easy and secure contactless payment.”
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- UK Consumers “Save 34 Years A Month” By Using Contactless Cards (August 31, 2016)
- Is Your Contactless Card Being Scanned Without You Knowing? (February 19, 2016)
- What Will The Future Of Money Look Like? MBNA Predicts (March 9, 2016)