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226% uplift in UK contactless payments in past 12 months

New figures from WorldPay show contactless payments are rocketing, with 226% more contactless transactions compared to this time last year.

Contactless payments have more than trebled (249%) between 2012 and 2013 (from 12.5 million UK payments processed by WorldPay in January-December 2012 to 43.6 million UK payments in January-December 2013). There are currently 38.1 million contactless cards in circulation across the UK, making up 25.7% of all credit, and debit and charge cards.

Take up of contactless has been greatest in London with one in five (17%) using contactless cards, closely followed by Manchester and Leeds (12%). However, in Bristol contactless has failed to catch on with only 4% people using it.

In total, WorldPay customers have made more than 61 million contactless payments with a total cash value of £433 million. Latest transactional data from WorldPay shows consumer confidence in contactless has also grown with the average sale size increasing by 27% in just two years.

Dave Hobday, Managing Director of WorldPay UK said: "Contactless means being able to serve customers faster and cut down queues. Today's shoppers' demand speedy service, and will walk away if they don't get it. Using contactless means you'll never miss a sale during peak times. That's why last year we helped over 70 large retailers move to contactless. Not using contactless means you are out of touch with what your customers want".

Research by WorldPay reveals that 93% of people who have used contactless payments find them "quick and efficient" and 60% recognise the contactless symbol.

One in three people (31%) said they are irritated by how long it can take to pay in shops, while almost half (47%) are dissatisfied with the delay in making a card payment in a bar, café or restaurant, a further 65% said they would not visit again if forced to wait a long time.

Dave Hobday comments: "If you are a business regularly taking payments of £20 or less, installing contactless is a must for keeping your customers happier, serving them quicker, and getting as many sales as possible during peak times".

Source : WorldPay.com
www.worldpay.com/media/index.php?page=archive&sub=worldpay-contactless-ig&c=

03 March 2014
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Thank you for the excellent presentation that you gave at Woodbury Park on Thursday morning. It was very interesting and thought-provoking for our Retail members. The feedback has been excellent.

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Martin Elliott. Chief Executive - Home Hardware.
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