Despite customers across the UK often experiencing ‘sorry, we don’t take contactless’ apologies at the till, it’s clear that tap-to-pay is on the rise with foodservice sectors leading the way.
For the October 2016 to March 2017 period, bakeries came out on top with 62.5% of the transactions, followed by pubs & bars with 48.2%, then caterers with 47.8%, and takeaway site at 45.5%. Restaurants came out at 42.7%, confectioners at 39.9%, retail at 27.85, and hotels at 16.4%
According to the contactless statistics for 2016 from the UK Cards Association, over 21 million contactless cards were issued in the UK, with the total contactless spend reaching over £25bn.
Furthermore, a Paymentsense report recently revealed a clear rise in contactless payments across a variety of merchants between October 2016 and March 2017. Some merchants even achieved a month-on-month increase throughout the period. This was calculated by utilising the comprehensive pool of customer data, which records the amount of transactions their merchants have accepted by card, and how many by contactless payments.
The results were convincing – across the board, merchants had seen their contactless sales increase more than their chip & PIN transactions. This would suggest that the need to provide contactless card payment machines is now paramount for all merchants.
By looking even closer at the data, and more specifically at the sum total of contactless payments across key industries, it’s possible to identify possible leaders in the rise of contactless payments.