U.K. retail giant Marks & Spencer is claiming big results in emerging payments technology.
M&S claims it is the U.K.’s top contactless retailer, handling 230,000 contactless transactions a week. The company announced May 7 it has completed its expansion of a contactless payment test it conducted in 25 stores last summer in London by adding contactless payment terminals in 644 stores.
Approximately one in seven of card transactions less than £20 ($31 U.S.) are made using a contactless payment method, M&S states in a press release.
A quarter of the retailer's contactless payment volume is processed at self-checkout points in the food halls of its retail locations, M&S says.
"Contactless and mobile payment is set to be an exciting part of the future retail landscape," Sacha Berendji, retail director at M&S, states in the release. "A contactless payment takes place in less than a second, creating a quicker, easier and more convenient shopping experience."
Shoppers initiate a low-value contactless payment in M&S stores by tapping a Visa PayWave card or a properly equipped smartphone without entering a PIN.