The Future of Contactless Payments

One in five card payments is now made using contactless cards in the UK. This highlights that the future of paying for things in business is contactless with more and more retailers getting on the contactless hype. Some top rated us online casinos also trying to integrate this type of contactless payments. So with contactless having grown so rapidly over the past year, what’s next for the future of contactless payments:

Potential Rise in the Limit

In last year, the limit you can spend using a contactless card was increased from £20-£30 highlighting that there was a demand for the payment method in a range of retailers throughout the nation. With this being the case, more retailers got on board with the payment systems which are proven to encourage shoppers to make spur of the moment purchases. A Card Cutters contactless payment terminal at your business can encourage shoppers to make purchases off the cuff, with the popularity of the £30 limit, this could mean there’s potential for it to be increased further over the coming years.

Cashless London

Cashless London is leading the way when it comes to the contactless revolution, with contactless cards slowly replacing the trusty Oyster on the London Underground. Data produced by TFL recently showed that over a third of oyster users have migrated to contactless cards, the oyster card could well and truly become redundant in the future with the popularity of contactless sets to continue.

Contactless is Safer

Many people who were initially reluctant to use contactless because of the risk of fraud have switched to contactless payments after research from the Financial Fraud Action UK Group shows that contactless theft still remains relatively low. The ease and speed of making transactions make it a much better alternative to traditional chip and pin. If you do lose your contactless card you are protected against fraud as long as you report it going missing as soon as possible.

Mobile Payments

Thanks to the introduction of ApplePay and other mobile payment devices, the future of contactless could someday become completely mobile, replacing the need to carry any cards or cash at all. So many retailers now accept mobile payments that it’s becoming the new way to pay across the globe.

Contactless has certainly revolutionised the way we pay for things like australia online casino with most new cards issued having contactless technology integrated. The future of contactless payments looks set to continue with it replacing cash and chip and pin for most everyday purchases.

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