Half of debit card payments now contactless
Written by Hannah McGrath
There were 1.6 billion debit and credit card transactions made in the UK in July 2019 - 5.7 per cent more than a year ago. This reflected a total spend of £60.1 billion - 0.7 per cent less than in the same period in 2018.
Data from UK Finance revealed that 35 per cent of credit card transactions and a landmark 50 per cent of debit card transactions in the UK were made using contactless cards during the month.
In total there were 766 million contactless card transactions in July, a 17.8 per cent increase from 650 million in the same month a year earlier.
The total value of contactless transactions was £7.2 billion in July, an 18 per cent increase from £6.1 billion in the same month in 2018.
When consumer watchdog Which? surveyed 1,066 people in August 2016 about their views on contactless cards, they found that 73 per cent of the public thought having a contactless card makes it quicker to pay for goods and services. However, 69 per cent said they were concerned about their contactless card being stolen and used to make purchases.
Mastercard and Visa have set targets to ensure that contactless terminals are available in every shop in the UK by 2020.