The UK Cards Association has published its latest card expenditure statistics. According to the data, there were over 60 contactless transactions a second in February 2016.
The average contactless transaction has continued to grow in value to £8.28, reflecting the impact of the increase to £30 of the contactless payment limit.
The average statistics for contactless in February 2016 were:
- 159.1 million contactless transactions to pay for low-value purchases.
- 1.182 billion transactions using cards compared to 1.071 billion in February 2015.
By contrast, the average value of overall transactions, and those made specifically online and in shops, declined. This reflects the changing spending habits which see consumers use their cards as the preferred way to pay for increasingly smaller purchases, in place of cash.