UK leading the way for contactless payment technology, research shows
The UK is leading the way when it comes to contactless payments in Europe. Millennials are the biggest users of the technology, according to research from Visa.
The company’s latest digital payments study showed use of contactless payment technology reached a record high in June 2017, with 34 per cent of all card payments being made this way.
There has been an increase in the number of 18 to 35-year-olds using contactless payments, with 76 per cent making payments this way in June - up by 11 per cent from two years ago.
The biggest users of contactless technology were from London, with 78 per cent of Londoners saying that they have used a contactless debit or credit card to make a payment. This was followed by Wales at 70 per cent and the East Midlands at 68 per cent.
The study also found that mobile phones are one of the main drivers of contactless technology usage. 26 per cent of those surveyed use their mobile to make a payment. This figure rises to 36 per cent for those who use a contactless card.
Visa UK & Ireland Managing Director Kevin Jenkins commented: “The introduction of contactless cards in the UK ten years ago was a watershed moment. Whether buying lunch, commuting without having to top-up, or donating to charity, Brits have come to expect a painless payment experience.”
A study from data analytics firm Consumer Intelligence has highlighted the impact of technology failures in banking, with more than…