Visa today announced that it has processed more than half a billion additional touch-free payments, where previously consumers would have needed to use a PIN pad, since contactless limits were increased in more than 29 countries across Europe. 

Contactless transactions rose by 15% year-on-year in Ireland alone, with the average purchase amount also increasing by over 25% due to the new contactless limit of €50 being introduced on 1st April earlier this year.

Visa say the growing demand for contactless is visible across Europe, where over 75% of in-store Visa payments are now contactless. In some European countries, the share of Visa transactions that are contactless have more than doubled year-on-year and in many of the largest European nations, the share of Visa transactions that are contactless has increased by at least 20% in the past year.

Commenting on this trend, Ireland Country Manager at Visa, Philip Konopik said, "The increasing popularity of contactless payments in Ireland is not new – the pandemic has only served to accelerate an existing trend, only now touch-free payments are no longer a convenience, but a necessity. When the global pandemic hit, we worked with our partners in Ireland to raise the contactless payment limit to €50 in April in order to help consumers pay more easily and securely and reduce the need to enter their PIN."

Source: www.businessworld.ie