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Between 2015 and 2016, U.K. have doubled the amount of cashless payments within the past decade due to the increased use of debit and credit cards, according to the UK CardsAssociation (UKCA) research we shared last week. billion purchases to 2016 at 16.4 Online retail sales in the U.K. From 2006 at 6.7
The UK CardsAssociation reported that, as of Nov. 2016, there were more than 100 million contactless cards in issue in the U.K., According to Finextra , AIB customers are using contactless payment for more than 5 million transactions each month — and that number is only expected to grow.
CardsAssociation announced on Thursday (May 19) that the monthly spending on contactless cards reached a record £1.5 billion in March 2016. Today, one in seven of all card transactions that take place in the U.K. 2015, monthly contactless spending hit £1 billion. In a news release , Richard Koch, U.K.
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