The impact of Covid-19 on how consumers are spending is recorded in the latest figures from the banking sector. In May, consumers spent €600 million using contactless payments, the highest monthly figure on record.
The figures were compiled by the Banking and Payments Federation. Every day in May, more than €19 million was spent using contactless payments.
We may be tapping slightly less, because of the lockdown, but we are spending more. In April, the amount we could spend using contactless payments increased from €30 to €50, so as a result the average spend per transaction is also up, more than €3.
Given the pandemic, it appears customers want to handle cash less. More than 90% of consumers now use contactless with a quarter of us prefer