Tag Archives: contactless payments

Contactless payments: Older shoppers take the lead

contactless-payment-300Contactless card spending is on the up – and the grey pound is the engine behind it. Spending money with contactless payments topped £1.5bn in a month for the first time in March, with one in seven card transactions now contactless compared to one in 16 a year ago. 

The figures are also more than double those in August 2015 when we last featured contactless payments on this blog.

Experts put it down to older shoppers catching up with young people, with research from Barclaycard finding that the number of ‘tap and go’ payments made by those 60 or over has increased by 116% over the past year.

The 18-24 age group has seen a 49% rise, while among 26-45 year olds it has gone up 65% – however in the 46-60 year old age group, the number using contactless payments has increased by 97%.

The figures arguably that the older generation are increasingly turning to faster, easier (no need to tap in numbers) and arguably more secure contactless payments rather than cash.

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Contactless payments are on the rise

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Have you made a contactless payment recently? Today? Contactless payments – a quick and simple way to pay for items of £30 and under – are changing the way we spend money.

You can touch your debit or credit card on the terminal, or your smartphone or tablet, or even your watch or a keyfob. No need for a PIN or a signature, all over in seconds.

And this method of payment is increasing rapidly, with Barclaycard research in late August finding that contactless spending had more than tripled in the past 12 months. Continue reading