{"id":3172,"date":"2017-06-28T23:23:46","date_gmt":"2017-06-28T23:23:46","guid":{"rendered":"http:\/\/paymentfac.wpengine.com\/?p=3172"},"modified":"2022-02-24T22:10:27","modified_gmt":"2022-02-24T22:10:27","slug":"u-k-contactless-payments-reach-halfway-point","status":"publish","type":"post","link":"http:\/\/infinicept.com\/payment-facilitator\/archive\/u-k-contactless-payments-reach-halfway-point\/","title":{"rendered":"U.K.: Contactless Payments Reach Halfway Point"},"content":{"rendered":"

Recent surveys from the U.K. again highlight the difference between the market for contactless cards there vs. in the U.S. <\/strong><\/p>\n

A survey from Barclaycard says that British consumers now use contactless payments for more than half (51%) of their transactions under the limit of 30<\/strong>\u00a3.<\/strong><\/p>\n

The survey reported that contactless spending is up 34% since the beginning of 2017.<\/p>\n

The news is part of the company\u2019s quarterly Contactless Spending Index, and it comes just ahead of the tenth anniversary of the introduction of contactless into the U.K. in September.<\/p>\n

According to Barclaycard, the use of contactless takes seven fewer seconds than a chip-and-PIN transaction. As PaymentFacilitator.com has reported before, that factor could push the U.S. to adopt mobile payments faster, as that additional seven seconds has made for a poor consumer experience in the U.S.<\/p>\n

At the same time, data from the U.K. Cards Association, a trade organization for the payment card industry in the U.K., says that card payments have doubled over the past ten years, driven largely by that rise of contactless payments.<\/p>\n

The report said that continued growth in contactless and mobile payments is expected to drive further increases in card usage over the next decade.<\/p>\n

\u201cCard payments play a central role in our economy, with spending equivalent to a third of the U.K.\u2019s GDP. As consumers continue to make the switch from cash to contactless and with the rise of the app-economy, we forecast that the number of card payments will grow substantially over the next decade too,\u201d Graham Peacop, chief executive of the U.K. Cards Association, said in a press release.<\/p>\n

The report also noted that transaction volume is growing more rapidly than the amount spent on cards, indicating that shoppers are using cards to pay for lower-value purchases.<\/p>\n

According to the report, 39% of all card transactions were either online or contactless at the end of last year, a number that was up from 24% the same time last year.<\/p>\n","protected":false},"excerpt":{"rendered":"

Recent surveys from the U.K. again highlight the difference between the market for contactless cards there vs. in the U.S.<\/p>\n

A survey from Barclaycard says that British consumers now use contactless payments for more than half (51%) of their transactions under the limit of 30\u00a3.<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","_FSMCFIC_featured_image_caption":"","_FSMCFIC_featured_image_nocaption":"","_FSMCFIC_featured_image_hide":"","footnotes":""},"categories":[1015],"tags":[189,913],"class_list":["post-3172","post","type-post","status-publish","format-standard","hentry","category-archive","tag-contactless","tag-u-k"],"acf":[],"_links":{"self":[{"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/posts\/3172","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/comments?post=3172"}],"version-history":[{"count":2,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/posts\/3172\/revisions"}],"predecessor-version":[{"id":7999,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/posts\/3172\/revisions\/7999"}],"wp:attachment":[{"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/media?parent=3172"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/categories?post=3172"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/tags?post=3172"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}