Over 60s embracing contactless technology

Uptake of contactless payments technology has been particularly strong among over 60s, who now outnumber 18-25 year old users of contactless cards.

That is according to the latest figures from Barclaycard, which showed that usage among the over 60s age group witnessed the most significant growth over the 12 months to July, registering a 114 per cent increase.

Overall, contactless spending in the UK increased 173 per cent by value and 112 per cent by volume in the year to the end of July 2016, Barclaycard found. Gender-wise, men and women are now adopting contactless technology in equal measure, with usage rising by 67 per cent among both since the limit increase from £20 to £30.

Since the limit rise last September, the average customer now spends £28 a week using contactless. The average amount Barclaycard customers spend on each transaction has also risen, jumping 29 per cent from £6.77 to £8.70.

London remains ahead of the rest of the country with one in four of all card transaction under £30 now paid for with contactless. Outside of London, Glasgow saw the biggest climb in contactless usage, with residents spending 291 per cent more year-on-year. Also experiencing big jumps were Blackpool (288 per cent), Edinburgh (269 per cent), Cardiff (263 per cent) and Hull (261 per cent).

Tami Hargreaves, commercial director of digital consumer payments at Barclaycard, said: “The £30 spending threshold has increased the popularity of contactless payments amongst both existing and new users, both of whom are now using it more frequently and for higher amounts. No longer is ‘touch and go’ reserved for the morning coffee or lunchtime sandwich, instead our data shows shoppers are taking advantage of paying quickly and easily for everyday goods and services such as a few drinks after work or a basket of groceries on their way home.

“Retailers are also responding quickly to consumer demand and updating their payment terminals to accept contactless,” Hargreaves continued. “Contactless can now be used at over 400,000 locations across the country, and with the number set to increase further by the end of 2016.”

The Barclaycard figures follow statistics released by the UK Cards Association yesterday, which showed that contactless spending reached a record high in the first six months of 2016, with consumer expenditure via contactless payment cards reaching £9.27 billion between January and June – compared with £7.75 billion in the whole of 2015.

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