Contactless spending in pubs and bars shoots up 188% in 2015
Barclaycard data reported significant increase in uptake of ‘touch and go’ payments across all categories, as overall contactless spend leapt 164% by value and 135% by volume in 2015.
The news follows the announcement of the industry body, UKCA, revealing that total contactless spending reached £7.75 billion last year – treble the amount spent in 2014.
Barclaycard, which processes nearly half of all credit and debit card transactions in the UK, saw the value of spending using contactless technology in pubs and bars jump 188% in 2015.
Fast food outlets, meanwhile, shot up 108% compared to 2014. Restaurants reported a 104% increase, while convenience stores and caterer contactless spending rose 100% and 96% respectively.
According to Barclaycard, more than a quarter of active Barclaycard customers now use contactless technology to pay for goods and services every month, and customers now make more contactless transactions in a single calendar month than were made in the whole of 2013.
Tami Hargreaves, Commercial Director, Digital Consumer Payments at Barclaycard, said: “The speed and ease of contactless payments means this is fast becoming the preferred way for consumers to pay for many every day purchases. An increasing number of merchants are also choosing to accept contactless payments in response to this demand, leading to an explosion in contactless spending across the board.”
“The £30 limit increase has also provided opportunities for consumers to make contactless payments for larger purchases – such as a full basket of groceries at the supermarket or a round of drinks in the pub – which goes some way to explain why volumes rocketed in 2015. We expect to see contactless spending continue to grow throughout 2016 as both consumers and businesses enjoy the speed and convenience of touch and go payments.”
