Visa says they expect some 20 million contactless PayWave cards will be in use in the UK by the end of the year, according to Finextra.
Spurned by the recent roll out of contactless terminals in McDonald’s, Starbucks and other major retail chains, Visa says the rate of contactless card issuance will continue to accelerate, bringing the latest total of 13 million PayWave cards up to 20 million by the year’s end.
Other driving factors include Transport for London’s recent announcement that they will upgrade the Oyster network to accept contactless credit card payments on buses and the tube, and Visa’s push for contactless payments in the 2012 Olympics in London, according to the company.
Mark Austin, head of contactless for Visa Europe, comments: “Contactless payments are building to a genuine tipping point due to a combination of critical factors – more banks are issuing cards, major retailers such as McDonald’s are adopting the technology, and contactless travel infrastructure through Transport for London is being realized.”
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