Nearly 70% of debit card transactions are now contactless, as ‘tap and go’ payments hit record highs, according to trade association, UK Finance.
The association said the proportion of contactless card payments continued to increase in December 2021. It reached the highest recorded level, accounting for 69% of debit card transactions and 56% of credit card transactions.
The data showed that the average contactless spend increased by 29% per transaction after the raise of the contactless spend limit last October from £45 to £100.
