Barclays data shows contactless spending broke new record in 2024
- A record 94.6 per cent of all eligible in-store card transactions were contactless in 2024
- Over 65s were the fastest growing user segment for the fourth consecutive year
- The average contactless purchase cost £16.10 in 2024, and the average person used the technology 236 times, equating to total spending of £3,803 per person
- Barclays launched the UK’s first contactless card – the ‘Barclaycard OnePulse’ – in September 2007
- The Barclays Consumer Spend contactless report combines hundreds of millions of customer transactions with consumer research to provide an in-depth view of UK spending
New Barclays Consumer Spend data shows a record 94.6 per cent of all eligible in-store card transactions1 were made using contactless in 2024, surpassing the previous year’s record of 93.4 per cent. Shoppers used the technology more frequently – 236 times across the year, on average (vs. 231 in 2023) – and the cost of the average purchase increased to £16.10 (vs. £15.69 in 2023). This equates to total average contactless spend of £3,803 per person in 2024, up from £3,623 in 2023.
For the fourth consecutive year, the over 65s were the fastest growing group of contactless users, with 84.1 per cent of this group currently using this payment method. Convenience continued to drive uptake, as over two thirds (67 per cent) of those aged 61-79 agree that contactless payments are easier than chip and PIN transactions.
For payments above £100, the popularity of chip and PIN has remained consistent year-on-year; across all age groups, four fifths (78 per cent) name it amongst their most used method, followed by cash (29 per cent), and then mobile wallets (24 per cent).
For the younger generations2 however, mobile wallets outrank cash; two fifths (42 per cent) of Gen Z and a third (33 per cent) of millennials select mobile payments as one of their top preferences for payments above £100, compared to 30 per cent of Gen Z and 27 per cent of millennials who opt to use cash.
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.
“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.”
Contactless Spend Growth 2024 vs 2023 |
|
OVERALL |
3.7% |
Retail |
3.4% |
Clothing |
1.1% |
Grocery |
3.2% |
|
4.8% |
|
3.0% |
Household |
4.8% |
|
6.0% |
|
10.4% |
|
3.3% |
General Retailers |
4.1% |
|
13.0% |
|
5.0% |
|
-3.5% |
Specialist Retailers |
4.2% |
|
5.2% |
|
3.5% |
|
3.1% |
Hospitality & Leisure |
3.7% |
Eating & Drinking |
2.8% |
|
3.4% |
|
2.6% |
|
2.7% |
Entertainment |
5.3% |
Hotels, Resorts & Accommodation |
9.5% |
Travel |
6.3% |
|
1.6% |
|
10.0% |
Other |
5.2% |
Fuel |
0.3% |
Motoring |
19.4% |
Other Services |
15.5% |
Notes to Editors
1Eligible transactions are considered any contactless card transaction or mobile payment up to the value of £100
2Unless otherwise stated, generational age splits identified in this press release are:
- Gen Z (18-27)
- Millennials (28-43)
- Gen X (44-59)
- Baby boomers (60-78)
- Silent generation (79+)
Across its issuing and acquiring businesses, Barclays sees nearly 40 per cent of the nation’s credit and debit card transactions, which provides us with unique insight into UK consumer spending. Unless stated otherwise, this press release is based on consumer card spending data from Barclays’ issuing business – i.e. Barclays debit card and Barclaycard credit card transactions. It relates to the 2024 calendar year.
The Barclays Consumer Spend research in this press release was carried out between 18th and 21st February 2025 by Opinium Research on behalf of Barclays. There were 2,000 respondents in each round of research, providing a representative sample of UK consumers by age, gender, region, and income group.
For more information, please contact Risha Sharda at risha.sharda@barclays.com.
About Barclays
Our vision is to be the UK-centred leader in global finance. We are a diversified bank with comprehensive UK consumer, corporate and wealth and private banking franchises, a leading investment bank and a strong, specialist US consumer bank. Through these five divisions, we are working together for a better financial future for our customers, clients and communities.
For further information about Barclays, please visit our website home.barclays.
About Barclays Market and Customer Insights
Barclays Market and Customer Insights helps businesses keep up to date with spending trends, monitors their market position and enhances their understanding of customer behaviour, based on actual customer spending. For further information, please email contact-MCI@barclays.com.