Boom. Q2: Europe breaks 1 billion for contactless transactions

Contactless payments

Nothing’s moving faster than the payments market. Apple Pay launched yesterday in the UK and we’re set to see a massive increase in the amount of contactless payments the world over. And the big news at the end of 2015Q2 is that VISA Europe cardholders have worked tirelessly pulling no punches in their purchasing power to make over 1 billion contactless payments of the last 12 month period. Sheesh!

Yes. More than 1 billion transactions.

Just in the Netherlands alone the amount of contactless transactions made in the first two quarters of 2015 was more than the total sum of 2014.

Here’s an overview of the figures provided by VISA Europe in their recent press release:

  • More than €12.6 billion spent in total across Europe
  • 130 million Visa contactless cards are now in circulation across the continent
  • UK leads the pack with top number of contactless cards issued – 49.6 million
  • Poland takes second place for contactless transactions with 49.7 million, following the UK’s 52.6 million
  • By 2020 all VISA point-of-sale terminals in Europe will accept contactless payments

Each of these payments has a maximum of €25. And parking payments most definitely fit snugly within that limit. It's going to be interesting to see how this change in payment methods plays out - what are your expectations of these developments in the parking industry?

Will it see the end of paper ticketing?

Are we going to see big changes in the exit and control functions within parking facilities?

Is it going to grant more security to parking payment transactions?

Leave a comment if you dare...

 

For the complete article from VISA Europe, click here.

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