Contactless Payments Hit New High in the UK for 2024, Says Barclays

 

Contactless payments reached a record high in the UK in 2024, with 94.6% of eligible in-store card transactions made using the technology, according to Barclays. This marks a rise from 93.4% in 2023.

Consumers also tapped more frequently, averaging 236 contactless transactions over the year, up from 231 in 2023. The average value per transaction increased to £16.10 (US$20.84), compared to £15.69 (US$20.31) the previous year. This led to an average annual contactless spend of £3,803 (US$4,923.10) per person—up from £3,623 (US$4,689.88) in 2023.

Older adults continued to adopt contactless at a growing pace. For the fourth year in a row, those aged 65 and over were the fastest-growing user group, with 84.1% now using the method. Among those aged 61–79, 67% said contactless is easier than chip and PIN.

For purchases over £100, chip and PIN remains the preferred method across age groups, with 78% ranking it among their top choices, followed by cash (29%) and mobile wallets (24%).

However, younger consumers show different preferences: 42% of Gen Z and 33% of millennials favor mobile wallets over cash, which is used by 30% and 27% of each group, respectively.