Friday 21 October 2016 | RSS



    News in brief

    One in 10 UK card payments were contactless in 2015

    News in brief

    The average UK adult made 20 card payments per month in 2015, of which around one in 10 were contactless, research released by Payments UK reveals. “By 2025, we are predicted to use a debit, credit or charge card virtually every day and almost half of these transactions, 14 per month, will be contactless,” the organisation says. “Many of these payments may be made using a mobile phone.” Payments UK also predicts that by 2025, cash will only be used for 27% of payments.

    Filed by Email Rian Boden Published • Last updated 23 May 2016, 14:18

    • Willam Hugh Murray, CISSP

      We simply do not have nine years. In less time than that the fraudsters will have destroyed public confidence in the retail payment system. Think contactless, cardless, and (account) numberless. Think NFC, QR tag, even cellular; mobile or wearable; digital tokens to replace card numbers in the clear. This can be done with mostly software, perhaps a little bit of cheap hardware, in months, not years.

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