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Contact-less card payments gaining popularity

Contact-less payments using credit and debit cards enabled with Visa payWave or Mastercard PayPass for smaller, everyday purchases have tripled in Singapore over the past year due to their speed and convenience, United Overseas Bank (UOB) said in a statement on Monday.

SINGAPORE: Contact-less payments for smaller, everyday purchases have tripled in Singapore over the past year due to their speed and convenience, United Overseas Bank (UOB) said in a statement on Monday.

It said holders of its credit and debit cards averaged more than 500 contact-less card payments a day in the 12 months to April 2014 -- triple the figure for the 12 months to April 2013.

The most frequent users of contact-less card payments are professionals and executives between 30 and 45 years of age, it added.

Contact-less cards are credit and debit cards enabled with Visa payWave or Mastercard PayPass that let people make payments below S$100 by waving the cards before a reader.

Victor Chia, chief executive officer at Dairy Farm Singapore (Food), said the adoption of contact-less payment has shortened queue time at Dairy Farm outlets such as Cold Storage, Market Place, Jasons, 7-Eleven and Guardian.

"Contact-less payment has revolutionised the way in which retailers accept payment from customers," he added.

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