Visa report one billion additional touch-free Visa payments made as consumers embrace contactless commerce.
Visa report that:
- Less than a year since contactless limits increased across Europe, Visa has hit one billion additional touch-free transactions, 400 million of which took place in the UK.
- Consumers and merchants are increasingly turning to contactless payments as a secure and seamless way to shop – two thirds (65%) of consumers say they would prefer to use contactless payments as much as, or more than, they do currently.
- Contactless remains one of the most secure and convenient ways to shop with Visa following the limit increasing in some countries by as much as 50% last year, and the announcement that the UK contactless limit will increase to £100.
The demand for touch-free payments indicates that contactless has become the norm for European consumers and retailers. Contactless payments are popular because they combine speed and convenience with security. Indeed, contactless cards experience among the lowest fraud rates of any payment type and in countries where contactless payments are widely used, fraud at the point of sale remains at historic lowsCharlotte Hogg, Chief Executive Officer, Europe at Visa