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Concerns expressed by retail leaders following Chancellor’s Autumn Statement

23 Nov 2023

Retail sector leaders have expressed a range of concerns, from taxation to business rates, following the Chancellor’s Autumn Statement this week.
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Winners of Booker Prize Indie Bookshop Spotlight competition named.

22 Nov 2023

Six independent bookshops from around the UK have been named as the winners of the inaugural Booker Prize Indie Bookshop Spotlight, a competition in which independent bookshops and booksellers... Read more…

New Conservative Party chairman writes responds to NFSP DVLA petition.

21 Nov 2023

The National Federation of Subpostmasters has received a response from new Conservative party chairman Richard Holden MP regarding the petition to keep DVLA services in post offices.
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British Business Bank launches new ‘Making business finance work.

21 Nov 2023

The British Business Bank has launched a new guide aimed at smaller businesses to help them understand how different financial products can support them at all stages of their development.
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Indie Shops to Boycott Black Friday

21 Nov 2023

Independent retailers across the UK are set to defy the Black Friday sales frenzy for the third year running, according to a survey conducted by Bira, the British Independent Retailers... Read more…

Indie shops key to reversing fortunes of struggling high streets, new study shows.

20 Nov 2023

A focus on independent stores and ‘browse-only’ shops can help to reverse the fortunes of the struggling high street, new research shows.
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Bira sets out expectations for this month’s Budget.

15 Nov 2023

The British Independent Retailers Association (BIRA), which works with over 6,000 independent businesses of all sizes across the UK, has outlined its expectations from the government... Read more…

Mixed picture on consumer spending plans for Christmas

7 Nov 2023

New survey data from Deloitte has shown a seven percentage-point rise in the number of UK consumers - from 19% in 2022 to 26% in 2023 - who intend to spend more in the last three months of 2023,... Read more…

Grants of up to £100,000 made available to boost Cornish High Streets

7 Nov 2023

Communities across Cornwall can now apply for grants of up to £100,000 to improve High Streets, the council has said.
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Warwickshire County Council launches campaign to promote Christmas shopping at independent businesses

6 Nov 2023

A Christmas campaign encouraging Warwickshire’s independent town businesses to shout about why shoppers should buy from them this year is making a comeback.
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Value of contactless payments grew 50% last year.

Posted on in Business News, Cycles News

Barclays, which oversees nearly half of the UK’s card spending, has reported that the total value of contactless payments made using Barclays cards in the UK increased by 49.7% year on year in 2022.


Barclays cardholders made an average of 220 tap-to-pay transactions last year, totalling £3,327 per person. Mobile wallets accounted for 4.1% of all contactless payments value last year, up from 3% in 2021. UK payment habits are evolving as consumers embrace digital convenience and use less cash.

In addition, contactless spending grew the strongest among consumers aged 65 and older, with Northern Ireland and Scotland home to the fastest contactless payments user growth in the UK.

While contactless payments have long been popular in the UK, according to the bank, three factors helped fuel higher adoption last year.

•    Higher contactless payment limit. The UK raised the contactless payment limit from £45 to £100 at the end of 2021. This gave consumers more opportunities to use their cards in-store.

•    Stronger acceptance. All bank-issued card terminals in the UK have accepted contactless payments since January 2020, according to UK Finance. But more merchants, especially small businesses, have started upgrading their payments hardware, expanding contactless acceptance throughout the UK—making it easier for cardholders to make contactless transactions.

•    Increased mobile wallet use. While cards make up much of the UK’s contactless payments segment, mobile wallets have made headway: The number of UK proximity mobile payment users grew 10.7% year on year in 2022, accounting for a little over 23% of the UK’s population. Mobile wallets could capture more contactless payment volume going forward as players like Apple Pay and Google Pay expand their features.

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