Retailers become more comfortable with contactless payments

By Liz Wells in Industry News 3rd June 2020

Barclaycard Payments, who handles half of all contactless transactions in the UK, has processed more than 25 million contactless payments up to the new limit of £45 in the UK since the limit was raised on 1 April 2020.

The total value of these 25 million contactless payments is more than £900m, with an average transaction value of £36.29.

Overall, more than 90% of face-to-face transactions are now made using contactless, Barclaycard Payments said.

In addition, 57% of in-store transactions at small businesses between £30 and £45 are now made using contactless.

Rob Cameron, chief executive of Barclaycard Payments, said: “Just as consumers are becoming more comfortable with contactless and digital payments, we’ve also witnessed this same behavioural shift with our merchant clients. Not only are they placing more emphasis on their payments systems, they’re also considering how providing a quick and easy payments process improves the overall customer experience.

“Coronavirus has only accelerated this trend, with many traditionally face-to-face businesses switching to online and distance selling for the first time in order to adapt and grow, and it will be interesting to see how card payments continue to evolve in the months ahead.”