Mastercard and Maestro Processed Over One Billion Contactless Transactions Last Year

Through Mastercard and Maestro cards, over one billion contactless transactions were processed in Europe last year, representing a growth of 150 percent compared to 2014, Mastercard announced on Wednesday.

In the fourth quarter of 2015, an average of 13 percent of all transactions conducted at points of sale in Europe were contactless.

At the same time, the number of payment cards, mobile phones, and other contactless devices increased by 121 percent, while the volume of spending achieved through Mastercard and Maestro contactless cards grew by 183 percent compared to the previous year. The number of issued contactless cards and devices rose by 50 percent compared to 2014, according to the statement from the card company.

Contactless payments are accepted in 74 countries, and Mastercard states that contactless Mastercard and Maestro cards or devices can currently be used at over four million points of sale worldwide.

“The increase in the use and acceptance of contactless payments is encouraging, as are the opportunities this trend provides for merchants. New research has shown that 48 percent of everyday payments in Europe are less than 25 euros, which is an amount that can be paid using a contactless payment terminal without entering a PIN.

Thanks to the high percentage of transactions that can be paid without entering a PIN and the willingness of consumers to use contactless technology, merchants are in an ideal position to take advantage of these benefits,” said Javier Perez, President of Mastercard Europe.

George Simon, President of the Central and Eastern Europe division of Mastercard Europe, concludes that based on contactless technology, consumers can enjoy fast and secure payments for everyday necessities. In the Czech Republic, Simon points out, last year 77 percent of Mastercard transactions conducted in stores were contactless, 55 percent in Poland, 40 percent in Hungary, and 38 percent in Slovakia.