It seems that the rising spending limit for contactless payments has been welcomed by UK consumers. Since it increased to £30 in September, shoppers are slowly, but surely, making higher value purchases using tap-and-go technology.
During that month, the average contactless transaction was £7.35, up by 23p on the August figure. And it’s this constant growth, although relatively small, that further confirms the continued move towards cards over cash.
Richard Koch, head of policy at The UK Cards Association, commented: “Consumers are increasingly reaching for their cards as their preferred method of payment. We know an increasing number of shoppers are choosing to make contactless payments, especially with the new £30 contactless payment limit. We expect to see last year’s trend of consumers using their debit cards more than their credit cards continue as we approach the festive season.”