M&S Contactless Program Netting 230,000 Weekly Transactions (May 7, 2013)
May 7, 2013
U.K. retailer Marks & Spencer (M&S) has completed a rollout of contactless payment technology in 644 of its stores and now is processing 230,000 contactless payments a week.
Piloted last summer in 25 of its London stores, M&S’s contactless program uses technology from Visa Europe that enables customers to pay for purchases totaling less than £20 (US$31) by tapping a contactless payment card or mobile device. Nearly 15 percent of purchases under that amount now are completed via the contactless method, according to M&S. Ready-to-eat food has been the most popular product category, with a quarter of all contactless sales being made at self-checkout points in M&S food halls. “In busy central stores that receive a huge lunchtime rush, contactless payment is helping to revolutionize the customer experience,” noted Richard Cooke, store manager at one of M&S’s London branches. “Self-checkout tills are already very popular, but contactless helps reduce queue times even further, giving customers a payment option that’s even quicker than cash.”
While the company’s London stores have the highest levels of contactless transactions, M&S said the program is becoming more popular in other busy urban center locations, including Manchester, Croydon and Reading.