According to Barclaycard research, 57% of shoppers – almost six in 10 consumers – intend to increase the amount of contactless transactions they carry out when the new maximum spending amount – rising from £20 to £30 – is introduced on September 1.
In the last year contactless spending on Barclaycard credit cards went up 150%. Similarly MasterCard recorded 560% year-on-year growth in the value of contactless transactions in July, up from a 373% increase in July 2014.
Compared to the beginning of July 2012 when the average MasterCard contactless purchase was £4.52, in July 2015 it had increased to £7.29
The retail sector has seen the largest increase in contactless payments, with supermarkets accounting for 29% of all transactions, Barclaycard figures indicate, which could rise significantly when the new limit is introduced.
“From the credit card to chip-and-pin, to contactless and mobile payments, British consumers have been fast adopters of new technologies,” says Tami Hargreaves, Barclaycard head of contactless payment. “Over the next year we expect the limit increase alongside the forthcoming launch of High Value Payments – where contactless transactions over £30 can be made using a mobile device combined with chip-and-pin authorisation – to drive this growth even further.”
In addition, Sainsbury’s is planning to roll out contactless payments to its stores next year, further boosting this payment method.
Watsons to open 20 new stores in the GCC
In 2020, global health & beauty retailer AS Watson Group signed its
April 29, 2024 | By Rupkatha BAsda and Deliverect Deepen Partnership to Power Rapid Delivery Across Asda Express
SQUATWOLF’s Kuwait Flagship Store Anchors Its Regional Growth Ambitions
Global beauty icon Ulta Beauty to make Riyadh debut at Panorama Mall
/ 
For decades, Haldiram’s built deep recall across the UAE through its packaged
When House of Habanero opened its first physical location at Alserkal Avenue
Union Coop has completed a significant expansion of its Hatta Souq branch,
Saudi Arabia is set to welcome U.S. food exporters this week, as
Majid Al Futtaim has officially entered the discount retail segment with the
As convenience increasingly becomes currency in the region’s grocery landscape, Union Coop
As wellness becomes a lifestyle in the UAE, the grocery aisle is
Grandiose, one of the leading grocery retailers in the UAE with a
With shifting consumer behaviour, rising cost pressures, regulatory changes, and rapid digitization,
Union Coop’s blend of retail expansion, digital innovation, and community focus is
Abu Dhabi-based MAIR Group has marked a pivotal stage in its transformation
In a move that blurs the line between shopping and investing, Apparel
/ 
Asda, the UK’s third-largest grocery retailer, has strengthened its partnership with Deliverect
In today’s retail landscape, the convergence of vision and execution assures continued
At the AI Roundtable, technology heads, marketers, and leaders explored how AI
As the world races towards automation, the Martech Summit brought the focus
From frictionless checkouts to AI-powered inventory, retail’s digital backbone took center stage
Pathfinder’s GenAI platform RetailGPT is built to bridge digital and physical retail.
In an exclusive interview with IMAGES RetailME, Driss Iziki, MEA Operations Director
By harnessing the power of artificial intelligence (AI), data and digital innovation,
In an era where digital transformation is pivotal, shopping malls are not
This panel discussion at MRF 2024 explored the balance between digital-first brands
At MRF 2024, Zebra Technologies showcased their AI-powered ‘store of the future’,
Previous Article
