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Contactless smart card payments 'to grow'
20 Apr 2010

Contactless smart cards are to become an increasingly popular way of paying for goods and services, according to the Payments Council.

The trade association, which last week revealed how payment methods are changing in the UK, estimates that the "contactless revolution" will continue to pick up pace as more retailers roll out the technology.

Currently, contactless payments can be made on a number of bank cards for transactions of up to £15, while loyalty, catering and transit cards are also becoming more popular with consumers.

By 2012, the Payments Council estimates there will be more than 30 million contactless credit and debit cards alone, on top of the various smart cards people will be using for their travel and payments.

Mike Bowman, head of policy at the organisation, said: "Contactless payment for small purchases has the potential to drive debit card usage.

"With 18 billion cash transactions less than £15, there's a huge opportunity for us to replace billions of these with a quick swipe past a card reader."

sQuid's own contactless smart cards are available in a number of council boroughs across the UK, for use on select buses and in various school cafeterias in particular.