News & Views - Savantor

UK Contactless rollout

Friday, 29 March 2013

Barclaycard reports contactless payments have been used to purchase more than 700,000 London bus users a ticket to ride since the launch last December, and this figure is raising daily. The latest figures show an average of 11,000 contactless bus fares are being made every day, and the volumes are growing exponentially month-on-month. It is expected that up to 25 million contactless bus journeys will be made across the capital by the end of 2013.

In addition to contactless journeys on London’s buses, approximately 130,000 merchant outlets signed up across the UK, including Pret A Manger, Waitrose, WH Smith, Wembley Arena and M6 Toll. The addition of some of the larger retailers is obviously a plus but some major retailers such as Tesco are still holding back on rollout and some Issuers are still not rolling out contactless across all card bases.

Visa predictions anticipate that:

·       UK will have 34 million contactless Visa-branded cards on issue by the end of 2013

·       175,000 contactless terminals deployed by the end of 2013

·       Europe reaching 70 million Visa-branded contactless cards and 650,000 contactless terminals this year

·       Transactions will grow fourfold over the course of 2013, thanks to the roll out in retailers like Boots UK, Marks and Spencer and McDonald’s, as well as all of London’s buses.

·       By 2020, 50% of the transactions on the Visa network will be made via a mobile device

There have been many false dawns for contactless over the last six years but maybe now the market is finally looking like it may get its act together to make the technology appealing to consumers.

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