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Contactless card payments treble in Britain during 2014

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Spending using contactless payment cards more than trebled to 2.32 billion pounds (US$3.6 billion) in Britain during 2014, the UK Cards Association said on Friday.

[LONDON] Spending using contactless payment cards more than trebled to 2.32 billion pounds (US$3.6 billion) in Britain during 2014, the UK Cards Association said on Friday.

The trade body said debit and credit cards now accounted for 75.8 per cent of retail sales in Britain, compared with 51.6 per cent a decade ago.

"Contactless has now firmly stepped into the mainstream," said Richard Koch, head of policy at the UK Cards Association.

"With usage soaring every month last year, we've seen people flocking to contactless payments as they switch away from cash,"he added.

REUTERS

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