More than a decade since Barclaycard launched the UK’s first contactless card, more than half of payments are now made using plastic instead of cash. The number of contactless payments is also increasing year-on-year as people find faster ways of paying. Whether it’s through your mobile, contactless clothing or through direct payment apps like Pingit, getting money from A to B has never been easier.
Consumer preferences are changing. For example, the ‘experience economy’ is really taking off as people start opting for things like yoga classes instead of designer glasses, or afternoon teas instead of large screen TVs; it’s clear that people value their time.
More than ten billion contactless payments are expected to be made in 2018 and with each transaction taking fifteen seconds less than paying with hard currency, there is a lot of time and money to be saved – tapping-out really can mean cashing-in.
How much time could you actually save by going contactless though? What are your new years’ resolutions? Eat more greens? Pick up some running shoes and burn off all that turkey you ate over Christmas? You’d be surprised what you could achieve with the time you can save.