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Contactless Card Purchases to Exceed 522bn Globally by 2026

“The number of contactless card purchases made worldwide will increase by an average of 23% a year and reach a total of more than 522bn by 2026, up by more than 370bn on the 149bn recorded in 2020, according to a forecast by Retail Banking Research (RBR) . The firm’s ‘Global Cards Data and Forecasts […]
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Tech

Contactless Transactions Surge in the UK

“New data from Barclaycard, which sees nearly half of the nation’s credit and debit card transactions, reveals that 91.1% of all eligible card transactions in 2021 were made contactlessly, with the total value of contactless payments made increasing by 40.2 per cent, year-on-year. The data also shows that shoppers increasingly opted for ‘touch and go’ […]
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Tech

Seven in Ten UK Debit Card Transactions Are Now Contactless

“Nearly seven in ten debit card transactions (69%) and just over half of all credit card transactions (53%) in the UK are now contactless, according to figures from UK Finance . The figures also show that there were 1,260m contactless card transactions during September, an increase of 30.5% from 966m in September 2020 and 70.3% […]
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Tech

African Payment Apps to Add Ultrasonic Authentication for Contactless Transactions

“Consumers across Africa will soon be able to use Nigeria-based payment services provider Paga Group’s mobile apps to authenticate in-store and person-to-person contactless payments using ultrasonic data-over-sound proximity verification technology. The company is adding ultrasonic authentication to both its Paga payments and Doroki merchant apps and plans to roll it out as a contactless verification […]
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Tech

Contactless Payment Rises—And So Do Back-to-School Purchases—PSCU Report Shows

“Contactless credit card transactions caught up to their debit counterparts as a percent of volume in August, with 17% of total card-present volume, as tracked in the monthly PSCU Payments Index, attributed to the payment form. That matches the share for contactless debit transactions. PSCU, a St. Petersburg, Fla.-based credit union service organization, issues the […]

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