Over 1bn Contactless Transactions in Europe Over Last Year

By Tim Maytom

visa contactless

Contactless payments are exploding in popularity and adoption across Europe, with over 1bn transactions made in the last 12 months, totalling over €12.6bn (£8.9bn) in sales paid for using contactless technology.

According to the data released by Visa, the UK is leading the charge in adoption, with 49.6m contactless cards in circulation, along with relatively high awareness and adoption of contactless mobile payment solutions, which will only increase following the launch of Apple Pay in the UK this month.

The UK also boasts the most money spent using contactless payments, with €330m spent in March 2015 alone, 410,000 terminals equipped with contactless tech, and adoption of contactless cards up 37 per cent year-on-year compared to March 2014.

The rest of Europe is not far behind though. France has 20.3m cards in circulation and 405,000 terminals, followed by Poland (14.5m cards, 354,000 terminals) and Spain (11.5m cards, 593,000 terminals).

Across Europe, 131m Visa contactless cards are now in circulation, and 2.6m terminals now accept contactless transactions, either via cards or mobiles. By 2020, all point-of-sale terminals in Europe will accept contactless payments, and will 240 banks across the continent issuing contactless cards and mobile payment adoption growing exponentially, the vast majority …read more

Source:: Mobile App News