I’m thinking about introducing contactless payment terminals in my stores. What do consumers really think of it?

It has been four years since Barclays and Barclaycard introduced contactless payments in the UK and there are now over 17 million contactless-enabled cards in circulation.

During this time the number of retailers who have embraced this technology has grown significantly.

Today shoppers can pay for goods with a simple tap of their credit or debit card in a variety of sectors from leisure and entertainment to food and drink, including Pret A Manger and Slug and Lettuce.

What’s more, consumers have reacted positively, with initial concerns over how the technology worked and questions about security.

In September 2011 alone, over 350,000 Barclays and Barclaycard payments took place across the country and the launch of the UK’s first contactless mobile payment service in May is another clear indicator that this is indeed a growing form of payment.

Richard Armstrong, head of UK payment acceptance at Barclaycard, explains: “Cash is no longer at the top of the payment stakes. Our research reiterates the readiness of consumers to embrace new forms of payment with one in eight of us admitting we don’t carry cash, while half of consumers believe cash will become extinct.

“For retailers, this should be a clear indication that shoppers are now looking for alternative methods of payment, and are ready to use them, to avoid spending time searching for change while in the queue,” he said.