In the fourth quarter tap transactions in Europe grew by 174 % year on year and tappers increased their usage by more than 20%.
Transit is a proven driver of contactless adoption by consumers.
MasterCard found Europeans are increasingly embracing contactless: 52% of MasterCard and Maestro in-store transactions are contactless in the Czech Republic, while similar growth trends are being seen in Poland (33%), in Hungary (18%) and in Slovakia (17%).
Spending on contactless cards in the UK has more than trebled over the last year to reach a record £2.32 billion in 2014. MasterCard or Maestro contactless is available in 38 countries in Europe (68 countries around the world) and each of the following countries have issued more than 5 million contactless cards – Austria, France, Italy, Netherlands, Poland, Russia, Turkey, and the UK.
When asked about the convenience of contactless devices, an average of 73% of consumers in Germany, Poland, Spain and the UK find the mobile phone a convenient way to pay. 42% of Polish would definitively consider paying contactless with their smart phones.
In London, millions of customers have easier and more convenient journeys since Transport for London (TfL) introduced contactless payments in September 2014. To date, there have been over 40 million journeys using a contactless card or device and contactless payments, making up nearly 12% of Pay as You Go journeys. In St Petersburg, subway riders no longer need to purchase a separate ticket or token for their ride thanks to the recent implementation of contactless payment acceptance.
For more data on Contactless access CardData®. For information and commentary on Contactless visit the searchable CardFlash® Library of more than 58,000 articles published since 1995. RAM Research® forecasts on Contactless are available exclusively through CardWeb.com.®