Data from MasterCard has revealed that the total number of contactless MasterCard transactions in Europe last year topped 1 billion, a year-on-year increase of 150%. Meanwhile, total contactless expenditure was up 375%, with an average transaction spend of £8.80 as customers not only used their card more often, but for higher-priced purchases.

Scott Abrahams, group head of acceptance and emerging payments at MasterCard UK and Ireland, said: “The rise of contactless usage and acceptance is certainly encouraging, but so are the opportunities for retailers to capitalise on this trend.

“New research shows that in the UK, 59% of daily purchases are below £20, and therefore typically within the contactless limit. With the majority of transactions falling within the contactless price band, retailers are in the ideal position to take action and reap the benefits with so many consumers embracing this technology.”