The volume of contactless payment transactions in the UK has grown 383% in 2013, according to payments processor Mastercard.
Contactless payment on Mastercard cards has grown quickly over the past year and the payment processor says contactless payment is now accepted in 63 countries, including 34 countries in Europe.
MasterCard and Maestro contactless cards or devices have been issued by more than 220 financial institutions in Europe and can be used at almost 2 million merchant locations worldwide, representing a 180% year-on-year increase. The amount spent on contactless cards has grown by 374%.
In the UK, Mastercard has joined forces with Weve, the joint venture between the three largest mobile operators - EE, O2 and Vodafone. The partnership will combine Weve’s ownership of mobile network with Mastercard’s payment network and relationships with UK bank partners, bringing contactless mobile payments to 80% of UK consumers.
Marion King, president for the UK & Ireland at Mastercard said “The growth figures for the UK show that consumers are increasingly comfortable with and reliant on the ‘tap and go’ contactless payment facility.”