LONDON, 24 November -- Commidea, the UK’s leading card payment processing solution provider, has announced that one million contactless transactions with a total value of more than £4 million have been processed using Commidea solutions so far this year. This means that over 80% of contactless transactions in the UK are processed by Commidea.
As Commidea and industry numbers indicate, contactless payments are on the rise. More consumers are ‘tapping’ their contactless cards at convenience retail and food outlets to pay for transactions under £15. The transactions take less than half a second and eliminate the need for handling cash, therefore reducing queue times and helping to increase sales.
In addition to the emerging trend of contactless payments, customer transaction volumes across Commidea’s systems as a whole have increased by 60% from this time last year. An average of approximately eight million transactions are carried out each week using Commidea’s card payment processing systems online and at customer locations including Blockbuster, EAT, TGI FRiDAYS, Lush and Thomas Cook.
These statistics illustrate Commidea’s growing customer base and the continuing trend of consumers using contactless, credit and debit cards instead of cash for everyday transactions.
“Contactless payments are on the rise particularly in the convenience payment sector and the figures show Commidea’s technology is at the forefront of facilitating this trend,” said Ian Rutland, Director of Marketing and Communication at Commidea. “We have always provided secure, easy-to-use technology for our customers across the retail and hospitality industry and this commitment continues in new payment types such as contactless. Our solutions help retailers to meet customer demand for convenience by accepting card payments for items ranging from smaller ‘impulse’ buys up to luxury and holiday purchases.”
# ends #
About Commidea and Point International
Commidea is part of the Point International Group of companies. Point is the leading European provider of electronic payment solutions and supports over 300,000 customers in the Nordic, Baltics and the UK through the provision of innovative and secure card payment solutions. Every day more than 7 million secure card transactions are handled through Point solutions. The Group manage more than 450.000 payment devices and customers range from large high street retail names to small independents, award winning e-commerce sites and many leading mail order companies. Point also operates an installed base of more than 5000 ATMs in the region. The Group is present in the UK, Denmark, Finland, Norway, Sweden, Iceland, Latvia, Estonia and Lithuania and employs over 600 staff.
Commidea has built a reputation for reliability, innovation and excellence and has developed Ocius, a Chip & PIN solution which is pre-certified by the banking community that has set new standards within the industry. Ocius Sentinel, is the first UK certified solution to offer complete end-to-end encryption enabling fast and secure processing.
Working with a network of business partners throughout the UK, Commidea delivers a managed, PCI DSS compliant, multi-channel payment solution to all sizes of business. Commidea also supports many of the country’s leading specialist distributors and system integrators.