Spending on contactless cards trebles in just one year
Shoppers increased spending on contactless cards by 300 per cent in the past year, with ten contactless payment now made every second, new figures revealed.
Total spend in 2014 was more than double that of all the previous six years combined, with annual spending reaching a record £2.32billion, the UK Cards Association said.
The steep rise has prompted the spending limit on the cards to be increased to £30 from September this year.
Shoppers can currently use contactless cards to pay for purchases of up to £20 by touching their card against a contactless reader in shops, bars and restaurants. It takes away the hassle of having to insert a credit or debit card and typing in a pin number for small purchases.