UK Finance: Over 25% of Payments Now Contactless
- Over a quarter of UK payments are now contactless
- UK Finance reports a 12% increase in contactless payments to 9 billion transactions
According to UK Finance, the trade association for the banking and financial services sector in the UK, more than a quarter of all payments made in the country are now contactless. This represents a significant increase of 12%, bringing the total number of contactless transactions to 9 billion. The rise in contactless payments is attributed to the convenience and speed offered by this technology, as well as the ongoing pandemic that has encouraged cashless transactions.
Factuality Level: 10
Factuality Justification: The article provides accurate information about the increase in contactless payments in the UK based on data from UK Finance, a reputable source.
Noise Level: 7
Noise Justification: The article provides relevant information about the increasing trend of contactless payments in the UK but lacks depth and analysis. It does not explore the consequences or long-term implications of this shift, nor does it offer actionable insights or solutions.
Financial Relevance: Yes
Financial Markets Impacted: The increase in contactless payments may impact the adoption of new technologies and payment methods by financial institutions and companies.
Financial Rating Justification: This article discusses a significant trend in the UK banking and financial services sector, which is relevant to financial topics as it relates to payment methods and technology adoption.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the last 48 hours.
www.retailsector.co.uk