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Contactless payments soar as consumers embrace £30 limit

The number of contactless payments has rocketed by 237% over the past six months compared to the same period the year before, thanks to the introduction of the higher £30 limit last September.

Contactless payment

Contactless payments over £20 have grown by 19.1%, double the rate of those under £20 (8%), according to the latest figures from Visa Europe.

As a result, contactless transactions now make up one in 10 of all face-to-face payments of between £20 and £30.

Kevin Jenkins, managing director for UK and Ireland at Visa Europe, said: “Increasing the spending limit to £30 has clearly encouraged consumer adoption and retailer opportunity across Britain.

“Overall, we have seen 36 million contactless transactions over £20 in the first six months; which amounts to nearly £900m of transactions.

“While the number of transactions continues to grow, we are already seeing the next generation payment technology arrive, with mobile and wearable payment services bedding in. Where the convenience and safety of making a contactless payment is available, consumers are eager to be cash free.”  

The limit was increased from £20 to £30 in September 2015.

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