Consumers ‘not checking’ contactless purchases
Written by Anthony Strzalek
Nearly half of all UK consumers do nott check the amount before paying with contactless, new research has revealed.
A study by money management app Yolt, found that more than three quarters (76 per cent) of Britons have used contactless payments and 40 per cent now make half or more of their card payments using contactless. However, nearly half (48 per cent) are not always checking the amount before they tap to pay.
Young people (those aged 18-34) are the least likely to check the amount before paying, with only four in ten (39 per cent) doing so every time they pay. Customers aged 55 or over are more vigilant, with 62 per cent saying they check the amount every time they use contactless.
The majority (82 per cent) of Londoners have used contactless payments, making it the most popular city in the UK for this type of transaction. However, only 38 per cent said they always checked the amount before using contactless to pay.
According to the British Retail Consortium, contactless payments now account for a third of all card transactions in the UK and data from UK Finance shows that on average 416.3 million contactless payments are made each month totalling £3.913 million.