Ok so the image isn't of a contactless payment, it's of cash (and maybe not even pounds and pence). However I chose it to symbolise the move away from reliance solely on 'traditional' payments.
Again, I use that term loosely. Cash has been, and is still holding firm as, a key part of our money system. Contactless has been around for a long time but has never really become mainstream in this country. Figures out this week hint that our willingness to adopt it may be changing. Figures show a dramatic rise in its use by consumers as it reached £1.5bn for the first time (only around 4 months after it broke the £1bn mark).
Just for the record, it apparently took 8 years to reach £500m - so that is a stark increase.
No doubt this has been helped by its broader use in London, and in particular on the TfL network) but any rise is good for a payments industry, and in particular a retail banking sector, that's put a lot of miles into promoting this technology.
It also strengthens other areas as moves to mobile payments rely on an willingness by the consumer to move away from the 'safety' of cash and Chip and PIN payments and adopt alternative payment methods in their everyday life. These figures, alongside the launch of services such as Android Pay, are therefore good news.
“This dramatic rise shows that paying with contactless is now second nature for millions of consumers who see it as an alternative to cash.” said Head of Policy at the UK Cards Association Richard Koch.