Just saw that contactless payments hit 60% of all in-store transactions in the UK last year

I was reading through some stats from UK Finance last night and that number blew my mind. I thought cash was still way more common over there, especially for small purchases under 10 pounds. What's driving that shift so fast compared to the US where we're still at maybe 30%? Is it the limit increases or just better adoption by merchants?

2 comments

2 Comments

tessa_hill8611d ago

Oh man, 60% is wild! I've noticed the same thing here on my end too, every time I grab coffee or a sandwich I'm just tapping my phone without even thinking about it. The limit hikes definitely helped, I remember when it was capped at 30 quid and now it's like everything goes.

emmag4011d ago

Wait, am I the only one who was totally against the contactless limit going up? I used to think it was just gonna make us all spend more without thinking, but honestly, you're right. I grabbed a coffee and a pastry yesterday without even pulling out my wallet, and it felt so much easier than fumbling for change. The old 30 quid cap used to drive me mad when I'd have to dig out my card for a sandwich and a drink.