September has marked the ten-year anniversary of contactless payment in the UK. Since its introduction, it has transformed British shopping habits, saving shoppers and business owners time at the checkout.
Over the past decade more than £60 billion has been spent using contactless payments. Research shows that six in ten people in Britain choose to pay with contactless devices when they have the option to.
Contactless spending is revolutionising the payments world, with the ever-growing popularity of contactless card and smart device payments.
More recently, contactless has been implemented into personal items, the first car key to integrate contactless has been launched this month with DS Automobiles. This allows people to make contactless purchases with just a touch of their car keys. The popular exercise tracker, Fitbit, has also introduced a band that incorporates contactless payment, this is due to go on sale next month.
In the past twelve months, contactless spending has grown across all sectors, clothing stores have seen the biggest growth with a 321 per cent year on year rise. Due to continuous technological advances, experts have predicted contactless usage in the UK will rise by a further 317 per cent by 2021.
Merchant Rentals offer a range of tailor-made payment finance solutions, all our terminals are equipped with the latest technology including contactless, ApplePay and AndroidPay. It’s easy to get in touch with us, simply call on 01942 407 980 or submit a call back request.