Continued momentum for contactless payments in 2017
There was rapid growth in the use of mobile and wearable payments last year, with the amount spent by Brits increasing YOY by 365% and 129% respectively, according to Barclaycard research.
As is often the case with contactless research, it’s light on stuff that actually matters (e.g. how much people are spending) and heavy on the likes of ‘increases of 6,000%’. Nonetheless, there have been some successes. In London, the roll-out across the Transport for London travel network from 2012 has played a key role in driving adoption. Other transport operators are now following suit. bPay, for instance, recently partnered with Plymouth CityBus to enable commuters to pay for their journeys using contactless across its services.
“The surge in popularity of wearable and mobile payments creates exciting opportunities for shoppers and brands alike. Consumers can now choose the type of accessory or device they want and match it to their lifestyle or fashion taste, all while enjoying the speed, ease and convenience that contactless brings,” says Adam Herson, Business Development Director, Barclaycard Mobile Payments.
“We introduced contactless payments to the UK in 2007, and ever since we’ve been driving the innovation and adoption of the technology. In the last 12 months, we’ve introduced the world’s first contactless car key with DS Automobiles, and we’re also working with many brands to embed bPay chips into everyday products, to allow their customers to pay quickly and easily.”