Older shoppers boost growth in contactless payments

New Consumer Spend data from Barclays’ annual contactless trends report has revealed that 2023 was another record-breaking year for ‘touch and pay’, with the fastest growth coming among the over 65s.
Usage grew across all age demographics, and the gap between older and younger audiences continues to narrow. The percentage of active users among 85-95-year-olds crossed 80% for the first time. More broadly, for the third year in a row, over-65s were the fastest growing segment for contactless usage, up 4.1% year-on-year.