Contactless card machine sales rose by 176% for the period January – September 2014 compared with the same period last year reported Chip & PIN Solutions which shows how merchants are embracing the new technology.
This comes on the back of Worldpay confirming contactless transactions have increased by over 150% in the past 6 months alone.
Both sets of figures show how the UK are embracing contactless technology regardless of some of the recent high profile concerns over paying for goods inadvertently.
Reasons for the increase in customers and merchants using contactless are thought to be down to London Transport using the contactless system in addition to the catchy advertising campaigns produced by VISA.
With payment technology seemingly making advancements every day, it’s good to see one of these advancements really taking hold on the card payments industry and something we can rely upon being around for some time to come.
Customer confidence is key to any new product being introduced into the card payment industry as consumers want to ensure their money is safe. Many new payment technologies have failed to really grab the attention of the consumer and merchants, with many choosing to stay with the traditional Chip & PIN terminal, which is trusted and relied upon.
By developing new technology such as contactless and installing it on a tried and tested card terminal which is recognised by the consumer, contactless has been widely accepted and looks like it’s here to stay.
November 18, 2014