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Bristol ranked top UK city for contactless payments

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Written by: Hannah Baker | Posted 16 April 2018 16:31

Bristol ranked top UK city for contactless payments

Contactless payments are expected to make up more than one in four (27 per cent) of all payments by 2026 and new research reveals that Bristol has been ranked the top UK city for the use of contactless.

Of the cities predicted to go cashless first, Paymentsense found that Bristol was number one.

Analysing data of nationwide transactions from 2017, found there were 8.2 million transactions in Bristol and of those 59.5 per cent of those were contactless.

Some 80 per cent of Brits now say that card transactions, including contactless, is their favourite form of payment.

Contactless transactions are more popular among younger spenders, with 41 per cent of Brits aged between 18 and 24 saying it is their favourite form of payment, compared to just under 10 per cent of people over 55.

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Almost half of those surveyed said they would like car parks to accept card payments. This was closely followed by public transport (42 per cent) and taxis (40 per cent).

Businesses could lose out on custom if they refuse to adapt to the contactless revolution, as 30 per cent of people in the UK would go to another shop if the vendor didn’t accept card payments.

Guy Moreve, head of marketing at Paymentsense, said: “As a society, we’re close to becoming cashless, as our asset highlights which UK cities are the most advanced in terms of payment solutions.

“There’s areas of the UK that are adapting to this movement, but others that haven’t made the list need to improve and move with the times.

“The study further highlights the average person’s diminishing availability of cash, as many struggle when it comes to everyday, cash-only services such as car parks and taxis, and the importance of accepting card payments within these businesses.”

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