UK Finance clippings file • NFCW

Three in ten UK consumers now use mobile phones and wearables for payments

By Tom Phillips • 18 June 2021 • Updated 18 June 2021

Woman making contactless payment with NFC mobile phone

Some 17.3 million people or nearly a third (32%) of adult consumers in the UK were registered to use their smartphone or smart watch to make mobile payments in stores by the end of 2020, a “significant” increase of 7.4 million people compared with 2019, according to UK Finance... More

What's New in Payments

FCA proposes increase in UK contactless spending limit

By Tom Phillips • 1 February 2021 • Updated 1 February 2021

FCA consultation paper on contactless spending limits graphic

The UK’s Financial Conduct Authority (FCA) is proposing to increase the limit for single contactless payments in the country from £45 (US$62) to £100 (US$137) and the limit for cumulative contactless transactions from £130 (US$179) to £200 (US$274)... More

What's New in Payments

Nine in ten UK in-store card payments are now contactless

By Tom Phillips • 22 January 2021 • Updated 22 January 2021

Nine in ten card payments made in UK stores during 2020 (88.6%) were contactless and the average contactless user made 141 transactions worth a total of £1,640 (US$2,241) over the course of the year, according to Barclaycard... More

What's New in Payments

UK to increase contactless spending limit to £100?

By Tom Phillips • 7 January 2021 • Updated 7 January 2021

The UK could increase the limit for contactless transactions from £45 (US$61) to £100 (US$136), according to reports in the British press... More

What's New in Payments

UK raises contactless transaction limit by 50%

By Sarah Clark • 24 March 2020

Barclaycard raises contactless transaction limit

The spending limit for contactless card payments in the UK is being increased from £30 (US$35.33) to £45 (US$52.99), UK Finance has announced. The new spending limit will begin to roll out from 1 April 2020. More

What's New in Payments

UK Finance reports 31% rise in contactless transactions

By Sarah Clark • 18 March 2019 • Updated 18 March 2019

Contactless card use surges as doubts ease — BBC News — “The number of transactions using contactless rose by 31% in 2018 compared with the previous year, banking trade body UK Finance data shows. Adoption of this technology on public transport and by more retailers has led, in part, to the rise.”

What's New in Payments

Popularity of contactless payments pushes debit cards ahead of cash in the UK

By Sarah Clark • 18 June 2018 • Updated 18 June 2018

Convenience of debit card payments puts cash in second place — UK Finance — “The popularity of contactless payments among UK consumers is a key driver of debit card growth. In total, across both debit and credit cards, the number of contactless payments increased by 97% during 2017 to 5.6bn. Almost two thirds (63%) of people in the UK now use contactless payments, and no age group or region falls below 50% usage.”

What's New in Payments

UK card expenditure statistics: June 2017

By Sarah Clark • 10 August 2017

UK card expenditure statistics: June 2017 — UK Finance — “There were just under 1.4bn card payments in June, a monthly record and a 12% rise in the last 12 months. This is the highest annual rate of growth in the number of payments since June 2008, driven by a robust rise in online (+20%) and contactless (+143%) purchases… Contactless payments accounted for 34% of all card transactions, while online payments accounted for 13%.”

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UK Finance

Eight news stories mention UK Finance

Three in ten UK consumers now use mobile phones and wearables for payments

FCA proposes increase in UK contactless spending limit

Nine in ten UK in-store card payments are now contactless

UK to increase contactless spending limit to £100?

UK raises contactless transaction limit by 50%

UK Finance reports 31% rise in contactless transactions

Popularity of contactless payments pushes debit cards ahead of cash in the UK

UK card expenditure statistics: June 2017