The UK Cards Association has published its card expenditure statistics for November 2015. Its statistics in relation to contactless spending show that:
- Spending on contactless has hit a record £1bn in a single month for the first time in November.
- By contrast, contactless spending amounted to £287 million in January.
- This represented an increase of 10% from October, with the number of purchases going up 6% to 1.174 billion from the same month (with rises partly attributed to Black Friday and Cyber Monday).
Richard Koch, Head of Policy at The UK Cards Association, said:
“Spending on contactless cards has increased almost fourfold since the beginning of 2015 and for £1 billion to be spent via contactless in a month is a major milestone.”