As the contactless payment limit increases to £100 in the UK today, consumers are “convenience first”.
In Brief:
This comes as part of the latest Generation Pay research by Worldpay from FIS.
The research says 55% of all UK credit and debit card transactions are now contactless.
“Ease and speed” have been cited as the key drivers of how consumers choose to pay.
What does this mean?
Around two thirds of UK shoppers did say that they have concerns when it comes to contactless card payments regarding safety and fraud, but Worldpay says the data suggests convenience is a bigger concern.
Last year, the £45 limit increase led to 17% more transaction value, indicating the option is being adopted.
