For the fourth year in succession, the fastest growing segment of users were the over-65s.

Contactless spending’s popularity among 35–54-year-olds is also increasing, with 67 per cent of that generation agreeing that contactless payments are easier than Chip and PIN transactions.  

While the number of contactless transactions, the average size of a transaction and the overall contactless spend of each consumer has increased, growth has slowed. In 2024, contactless spending increased by 3.7 per cent, which was muted in comparison to the 10.2 per cent uplift in 2023.  

Looking across card spending more generally, growth was just 1.6 per cent in 2024, with many consumers budgeting carefully and avoiding spending on big ticket items like clothing and electronics. 

Speaking about the figures, Karen Johnson, Head of Retail at Barclays, said: “Convenience is the driving force behind contactless technology becoming so embedded in the UK’s payment ecosystem. The increasing prevalence of self-service screens at retail and hospitality venues shows the importance of a smooth experience, regardless of the sector.” 

She continued: “However, contactless transactions cannot replace human interaction altogether. Consumer-facing businesses must continue to recognise the value that in-store members of staff can offer when it comes to fostering customer relationships and trust.” 

Although younger generations are decidedly more relaxed about going about their business without a physical card, it seems that no-one is quite ready to move on from them just yet.  

71 per cent of the over-55s told us that they believe it is still necessary to carry a physical card, even though most places now accept mobile payments, with 69 per cent of 35–54-year-olds expressing the same view, and even 56 per cent of 18–34-year-olds.  

18–34-year-olds are happy enough to leave their cards at home, with 42 per cent revealing that they often go out without a physical card. The same cannot be said for the older generations, with only 14 per cent of over-55s saying that they regularly leave the house without their bank card.  

When it comes to payments over £100, Chip and PIN remains the most popular method, with 78 per cent of consumers naming it as one of their most used methods, followed by cash, which scored 29 per cent. That score was higher than a mobile wallet, which only scored 24 per cent.  

Interestingly, the preference for cash as a payment method for bigger transactions ranks between 28 per cent and 30 per cent across all age groups. This shows that while contactless has become routine, most consumers, regardless of their age, still prefer to use more traditional payment methods for bigger purchases. This, perhaps, can be put down to a lack of awareness about mobile wallets, or, for life’s larger and more considered purchases, still wanting to use longer-standing payment types.  

While many credit the birth and rapid rise of contactless to the UK capital’s transport network and subsequent expansion into cafes and food stalls, there is no longer a gap in contactless sentiment between Londoners and the rest of the UK.