Restaurants and pubs see surge in higher value contactless spending

04-Apr-2016 - Last updated on 14-Aug-2024 at 19:22 GMT

Contactless spending in restaurants has more than doubled since the limit rose to £30 in September last year, according to Visa Europe.

Hospitality businesses saw one of largest boosts in touch and go payments of any sector, with cashless spending in restaurants rising 155 per cent between October 2015 and March 2016.

In pubs and bars there were a surge in contactless transactions in the £20 to £30 band, with an average weekly growth of 30 per cent during the same period.

But cashless purchases under £20 only grew by three per cent, suggesting larger rounds and more expensive bottles of wine are being bought via tap and go.

Kevin Jenkins, managing director UK & Ireland at Visa Europe, said: “Overall, we have seen 36m contactless transactions over £20 in the first six months; which amounts to nearly £900m.

"While the number of transactions continues to grow, we are already seeing the next generation payment technology arrive, with mobile and wearable payment services bedding in.”

Cashless payments have seen stark rise in hospitality, with ASK Italian, Zizzi, Carluccio’s and Wagamama among the chains launching mobile pay-at-table technology in their restaurants nationwide.

At the Michelin-starred end Lima and Lima Floral are among a number of top London restaurants taking payments through Apple Watches and iPhones via Apple Pay.

The mobile payment sector is expected to grow to 20m users and be worth up to £15bn by 2018.