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Contactless payment symbol recognized by most Brits
The number of people in the UK that recognize the symbol for contactless payments has risen dramatically, according to new research from Barclaycard.
Eighty-four percent of Brits now recognize the symbol for contactless payments, double the number from a year ago (44%) and a far cry from the 28% in 2010, found Barclaycard in recent research.
Across Barclays Bank customers the number of people using contactless payment methods has "rocketed", says Richard Armstrong, Retail Relationship manager for Barclaycard. The company is now seeing more than a million contactless payments each month.
"We've also given our customers greater choice in how they make contactless payments," said Armstrong. "We now offer not just contactless debit and credit cards but also mobile phones, Barclaycard PayTag which can be attached to your mobile and even, at selected events, a Barclaycard PayBand to be worn around your wrist."
One stumbling block for contactless payments has been users' fear of fraud. However, the survey revealed that most (75%) did not know that, as per all other card payments, contactless payments are insured against fraud. This fact alone left more respondents more inclined to use the technology.
Barclaycard recently upped the limit for contactless payments from £15 ($24) to £20 ($32).
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