Contactless payments reach 'tipping point' - Visa Europe

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Contactless payments have reached a critical point, Visa Europe notes, with more than 19 million transactions in March across Europe. Contactless transactions in the UK grew significantly in 2021. 1.5 million contactless transactions were processed on London buses between December and March, Marks & Spencer stores process 230,000 contactless transactions every week, and post offices have installed contactless payment terminals at their 11,000 locations.

Ann Van Schroeder, Head of NFC Contactless and Mobile Payments at Visa Europe, notes: “Markets like the UK, Poland and Spain are leading the way in contactless payments. Until the end of 2013, European users will carry out more than 52 million contactless transactions every month."

According to Van Schroeder, there are 58 million contactless cards in Europe now, and the volume of transactions using them grew by 46% from December 2020 to March 2021.

Recall that the growing market for contactless cards and payments was also announced by the regional manager of Visa Europe Catalin Cretu at the CEE Cards 2021 conference, which took place on April 24-25 this year in Bucharest, Romania.
 
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