You can hurry love, Mastercard research

You can hurry love, Mastercard research

Sentimental spending in the UK has increased by 49% since 2016, according to research by Mastercard. There has, however, been a significant return to last minute online shopping with 28% of Valentine’s Day purchases taking place on the day itself (14th February) in 2018.

This being Mastercard research, you won’t be shocked to hear that the use of contactless technology “continues to rise in momentum as the value of transactions rose by a huge 271%, since 2016”. “It’s hardly surprising this is the preferred method of settling the bill - especially with contactless payments now enabled in over nine million locations across 114 countries”, the company says

“In an age where contactless payments and same-day delivery e-commerce purchases are now the norm, it’s now easier than ever to gift our loved ones with meaningful Valentine’s surprises. Our data reveals that consumers in the UK and across the globe, are enjoying spontaneous experiences, over and above material gifts, even when making their romantic purchases at the very last minute,” says Scott Abrahams, Head of Acceptance and Emerging Payments at Mastercard UK & Ireland.

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