Barclays records surge in contactless transactions

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New data from Barclays, which accounts for almost half of debit and credit card spending in the country, reveals that a record 91.2% of all eligible card transactions were made using contactless payments last year.

The average contactless user made 220 touch and go payments last year, up from 180 in 2021, with the average value of one transaction rising by 18.5% to USD 15.13. There has also been a rapid increase in the value of contactless mobile wallet payments above the USD 100 card limit.

These payments made up 4.1 percent of the total value of all contactless transactions last year, up from three percent the year before.

Read more: Barclays records surge in contactless transactions

TalkFintech Bureau
TalkFintech Bureauhttps://talkfintech.com
TalkFintech is focused on the latest financial sector technologies and tools- covering all tech used by banks, investors, insurance, and wealth management sectors- and also conversations on retail financial management tools.

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