Visa Europe has announced that 12 million of its contactless payment cards are expected to be in circulation in the UK by the end of this year – a marked leap from the previously estimated 10 million.
The company also reported that the number of contactless transactions in the UK has doubled in the last six months.
Visa recently bumped the spending limit from £10 to £15 per transaction, although the average value of a contactless purchase has remained relatively low at £4.30.
Mark Austin, head of contactless at Visa Europe, comments: “Since its launch in 2007, contactless technology has grown in popularity and is fast becoming an everyday way to pay. This is demonstrated by the fact that the average value transaction is currently £4.30, showing that people are more and more confident, and keen, to use cards for smaller amounts rather than carrying cash.”
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