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Contactless payments are up by nearly a third (30%) since the start of the pandemic, it found.
Pre-pandemic, only 17% of all payments made were contactless.
The switch, which will constitute a 30% increase in contactless payments from before the pandemic to the end of 2022, was accelerated by changing consumer and retailer behaviour when it comes to paying for goods during Covid-19.
Anita Naik, lifestyle editor at VoucherCodes.co.uk, said: “Covid-19 has forever changed the way consumers spend their money.
“It remains to be seen whether the government will amend laws relating to legal tender, enabling retailers to permanently refuse to accept cash if they wish.”
A separate survey from Ipsos MORI and global payments provider Elavon found the most significant increase in contactless use was among 55- to 75-year-olds, with 54% upping their use of contactless payments.
Of those respondents who have increased their use of contactless payments, 91% plan to continue using them.
It is all very well use for contactless but banks and chip and pin providers all want 2 rental charges and commission and as if that is not enough. the FSA has said VERIFIED PIN IS NO GUARANTY FOR FUNDS