Spend on debit playing cards made in particular person utilizing contactless expertise has grown from 65% to 87% within the final three years.
The expansion of contactless has been accelerated by the Covid-19 pandemic, which prompted the restrict to rise from £30 to £45 after which once more to £100.
Contactless is hottest in eating places, the place it’s used for 93% of transactions and least common in electrical shops (68% of transactions), the place common buy costs are excessive.
Whereas faucet and pay has proved extremely common, Lloyds says it has seen robust uptake for its characteristic permitting clients to set their very own restrict.
Because the characteristic was launched in autumn 2021, 800,000 debit card clients have used it to freeze contactless funds, or select another restrict. Over half of these setting their on restrict have opted for one below £50.
,