The first six months of 2017 have been a resounding success for contactless technology in general, but spends via smartphone have hit a massive £370 million so far.

Services, such as Apple Pay, have grown in popularity since their release in 2015. The last 12 months has seen the steepest rise though, believed to be due to the introduction of Android Pay and Samsung Pay, which has helped to normalise the market.

The last six months have been especially crucial as spend via mobile devices increased 57%, from $46 million in January to £74 million in June.

It’s yet more evidence that consumers are moving towards a cashless society with contactless technologies looking set to take over. It’s the simplicity that has attracted many consumers to adopt it as their preferred method of payment. Many believe the spending limit to be the only thing holding it back.

CMO of Worldpay, James Frost was quoted as saying: “Mobile spending has shaken off the novelty tag, and is breaking its own spending records virtually every month”

“Granted there’s still some way to go before we start cutting up our cards and chucking away our wallets, but it’s easy to see why everyone from start-ups to tech giants is eager to have a stake in the technology.”

There are obvious benefits to consumers who take on mobile contactless technology, such as eliminating the need to carry cards. However, until it’s widely accepted as a payment option it’s simply an alternative. One thing is clear, retailers should be looking to accommodate this new trend by accepting mobile and card contactless transactions.  

Read our related post: Retailers in favour of a boost in contactless spending limit