Barclaycard says its customers are now spending £6.6 million per month on their contactless cards, as the firm celebrates the fifth anniversary of the introduction of the technology to the UK.
The latest figures from Barclaycard show that contactless payments have increased threefold since 2012, with 90 million transactions predicted during 2014.
Barclays launched contactless cards to all customers in March 2009 and there are now nearly nine million contactless debit cards and 9.5m contactless Barclaycards in customer wallets across the UK. The bank has also rolled out three-quarters of the UK's 300,000 contactless-enabled terminals, and processes nearly 50% of all contactless transactions that now take place.
With more retailers onboard and customer familiarity with the technology growing, the number of contactless transactions made by Barclays' customers in the UK last year rose to just over 45 million, from 15 million in 2012, with the total value of contactless transactions trebling from £100 million to over £300 million in the same period.
Last month alone, Barclays' customers made 5.3 million contactless payments - a 230% increase on February 2013. By the end of 2014, the bank expects its customers to spend £580 million through contactless transactions, a 93% rise on the £300 million spent last year.
Tami Hargreaves, head of contactless at Barclaycard says: "Shoppers across the UK have taken contactless to their hearts since we first introduced OnePulse in 2007 and are now making 400,000 contactless transactions every single day, with Barclaycard customers alone spending £6.6m contactlessly every month."