Barclaycard contactless payments data [UK Finance]

Following today’s announcement from UK Finance around the latest UK payments trends, Barclaycard Payments has issued the below data around contactless payments:

• Since the introduction of the new £45 contactless limit in the UK, Barclaycard Payments has processed over 25 million contactless payments above the previous £30 limit, and up to the new limit of £45
• The total value of these 25 million contactless payments is over £900 million, with an average transaction value of £36.29
• Overall, more than 90% of face-to-face transactions are now made using contactless
• Barclaycard processed 23% more contactless transactions in 2019 compared to 2018
• 57% of in-store transactions at small businesses between £30 and £45 are now made using contactless
• Barclaycard Payments also processes almost 40% of all credit and debit card transaction in the UK, which equates to about £1 in every £3 spent
• Barclaycard introduced contactless payments to the UK in September 2007
• Barclaycard Payments handles half of all contactless transactions in the UK

Rob Cameron, CEO of Barclaycard Payments, said: “Just as consumers are becoming more comfortable with contactless and digital payments, we’ve also witnessed this same behavioural shift with our merchant clients. Not only are they placing more emphasis on their payments systems, they’re also considering how providing a quick and easy payments process improves the overall customer experience. “Coronavirus has only accelerated this trend, with many traditionally face-to-face businesses switching to online and distance selling for the first time in order to adapt and grow, and it will be interesting to see how card payments continue to evolve in the months ahead.”