Do you accept contactless card payments? They now account for 51% of card transactions below £30

The figures are in and it looks as though contactless card payments the nation's new favourite way

Published 4th July 2017

The figures are in and it looks as though contactless card payments the nation's new favourite way to pay for goods and services (below £30). 51% of payments made within the £30 limit is done so using contactless technology.

With this in mind, the need for retailers to adopt the technology is evident. Not only is it on the rise, it’s also much quicker than the traditional chip and pin method which over time could be significant for retailers and help to reduce queue sizes.

Mobile payments are also on the rise according to the UK Cards Association with a 90% boost in usage this year. Another area that retailers should be looking to accommodate for as non-traditional methods such as Apple Pay and Pay Pal increase in popularity.

All of this has led to a significant increase in debit and credit card payments in the last decade. It would appear that we’re moving ever closer and closer to a cashless society and retailers would do well to become early adopters of the technologies that will lead to this.

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