2nd February 2015

There are currently over 45 million payment cards enabled with contactless capability. In 2014 the number of contactless transactions trebled to 319.2 million in the UK, with consumers spending £2.32 billion using contactless cards. Due to the increasing popularity of ‘tap and go’ the contactless spending limit is set to increase to £30 from September 2015.

How does contactless work?

Contactless provides customers with a fast, secure and convenient way to pay for transactions below £20. The transaction is authorised when the customer touches their contactless payment card against the card reader, with no requirement for a signature or PIN entry. Security is maintained via a limit on the number of consecutive payments made by the cardholder before the user is required to enter their PIN. Contactless operates using the same Chip & PIN network as standard debit and credit cards, providing the same fraud protection guarantees and assurances.

71% of consumers think contactless is easier than Chip & PIN - Worldpay

How will contactless benefit my business?

For further information and advice on contactless payments contact 0844 811 8700 / 1890 88 66 33