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Barclaycard reports a trebling in contactless spend in 2015

The number of contactless transactions made by Barclaycard customers more than trebled in 2015, thanks in part to the rise in the maximum spend on contactless cards to £30 in September.

Barclaycard, which processes nearly half of all credit and debit card sales in the UK, said contactless spend by value increased 164% last year, while the volume of transactions was up 135%.

The average contactless transaction value rose 26% to £8.65 following the increase in the limit.

Barclaycard reported that more than a quarter of its active customers use contactless every month.

Usage of the Barclaycard contactless card is highest in London: 41% of all transactions of up to £20 are made with contactless. This was followed by Cambridge, at 26%, and Northampton, at 24%.

The data comes as industry body the UK Cards Association said that monthly contactless spend passed £1bn for the first time in November.

Tami Hargreaves, commercial director of digital consumer payments at Barclaycard, said: “Every second counts for today’s busy shopper and, as our data shows, ‘touch and go’ payments are now the norm for an increasing number of everyday purchases. Whether it’s grabbing a coffee on the way to work – or stocking up on groceries on the way home – the speed and ease of contactless means it’s now the preferred way to pay for shoppers across the country.

”As the old adage goes, ‘time is money’, and we expect contactless payments to continue to break new records throughout 2016.”

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