20 November 2017, Smart Machines
It doesn’t matter what age you are, contactless is the go-to payment method, and for good reason.
Today, one in every five card payments is contactless, marking a major milestone since tap-and-go payments were introduced a decade ago. What makes this more impressive, is widespread adoption from generations who have grown up using cash and have an emotional attachment and affinity to the tangible notes and coins. This cannot be ignored.
In fact, those aged 60 and over are the fastest-rising acceptance of touch-and-go payments, with the number of contactless users in this age bracket up 116 per cent in 2016. The eye-opening statistics shows contactless payment is a tech anomaly, proving popular across all generations.
The UK Card Association predicts that 50% of debit card transactions will be contactless by 2026, so its clear adoption is only going to rise across all ages. Whether you’re tapping to pay for your coffee in the morning, or waving your way through barriers on the tube with a SmartPay device, speedy payment methods have made our lives so much easier, they’re here to stay. Has your business recognised this?