More than one in three payments in the UK are now made by contactless means, according to figures from trade association UK Finance.

On average, 20 million "tap and go" payments were made each day in 2018, with contactless card spending rising by nearly a third (31%) in using year-on-year statistics.

This means that in total, 7.4 billion transactions were completed using contactless cards in 2018 alone.

Credit card debt
41 million out of 60 million credit cards in the UK enable contactless payments

Contactless customers spent £69 billion in the UK over the entire year, which was up by 31.8% compared with 2017.

From this figure, £58.4 billion was spent on debit cards, with the remaining £10.6 billion being spent using credit cards.

Contactless technology is also being featured on more and more cards, as 82 million of the 99 million debit cards currently in UK circulation enabling "tap and go" payments, and 41 million of 60 million credit cards.

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UK Finance believe the rise of contactless payments is being driven by consumer preference and more retailers and transport services accepting the technology as a method of payment.

The company's managing director of personal finance, Eric Leenders, said: "Many of us are now reaching for our cards or mobiles rather than cash to make low-value purchases, as customers opt for the convenience and security of paying with contactless.

"There has also been an increase in credit card use although growth in outstanding balances has slowed, suggesting many consumers are using their cards for day-to-day spending rather than as a means of borrowing."