Contactless Reigns: UK Hits Record High in Tap-and-Go Payments

Contactless payments have hit a new milestone in the UK, with 94.6% of eligible in-store card transactions made using tap-and-go technology in 2024, reports Finextra. This is a rise from 93.4% in 2023, according to data from Barclays. On average, each Brit made 236 contactless purchases throughout the year. The typical transaction value rose slightly from £15.69 to £16.10, pushing the annual average spend per person to £3,803—up from £3,623 the year before.

For the fourth year running, the over-65 demographic remains the fastest-growing group of contactless adopters. Currently, 84.1% in this age group use contactless, with more than two-thirds of people aged 61–79 citing it as easier than chip and PIN. When it comes to purchases over £100, chip and PIN remains a staple across all generations—used by 78% of people—while cash is used by 29%, and mobile wallets by 24%. Among younger consumers, mobile wallets have overtaken cash. A notable 42% of Gen Z and 33% of millennials consider mobile payments a top choice for transactions above £100, compared to 30% and 27% respectively who still use cash.

These dynamics may shift further as the Financial Conduct Authority considers lifting the current £100 cap on contactless transactions. Karen Johnson, Barclays' Head of Retail, commented:"Convenience is the driving force behind contactless technology becoming so embedded in the UK’s payment ecosystem. The increasing prevalence of self-service screens at retail and hospitality venues shows the importance of a smooth experience, regardless of the sector."