Many high street shops trialled contactless payment for Christmas 2014 and it is now supported by some of the UK’s biggest fast food chains including Starbucks, Mcdonalds and Pret A Manger. But will the trend continue to grow and will contactless payment become a game changer in the world of retail?
Currently, an estimated 300,000 terminals accept contactless card payments and over 48 million contactless cards have been issued by major banks. But is this concept just a novelty? Or will it gain traction with the spending public?
The Growth of New Technology
Whilst Christmas 2014 saw a successful retail trial period for many high street giants, Christmas 2015 could be even more spectacular as Barclaycard prepare to stun British shoppers with a convenient payment gadget; one that will really wow the crowds.
Prototypes are being tested to produce ‘wearable payment’ devices, and the first to be developed is the contactless glove. Designed with the bag-laden Christmas shopper in mind, the clever contactless gloves (along with other prototypes such as handbags, bracelets or even hats) can be worn as a convenient and easy way of paying at any ‘tap and pay’ terminal.
Mike Saunders, the MD of digital consumer payments at Barclaycard believes that the contactless garments and accessories will add a fun and novel way to shop – hopefully over the festive period later this year. To find out more about the contactless glove, head over to the BBC website and watch a video trial with Rory Cellan-Jones.
Choosing Contactless for Your Business
Although the gloves are just a novelty idea, there’s no denying that contactless payment is fast becoming a key part of today’s retail world, and the ‘tap and pay’ concept is looking to take over shops and outlets in 2015.
With the contactless payment limit rising from £20 to £30 this year, ‘tap and pay’ could open the doors to some increased spending on UK high streets in coming months and could be used in the nation’s most-loved food and drink outlets as well as fashion or lifestyle retail shop. With British shoppers constantly searching for the most convenient avenues of purchasing goods, whether that’s online or in store, it’s important for businesses of all sizes to consider card payment and contactless payment for their customers.
If you would like to join the thousands of top retailers offering contactless payment, visit Card Cutters to view the options available and get approved in 48 hours.