After a year of significant growth for contactless technology, awareness of the term amongst consumers has also hit an all-time high, with many now recognising it as a common method of payment.
So with this in mind, the Oxford Dictionary has added ‘contactless’ to its shortlist for 2014’s word of the year, a decision it says was made due to the steady increase of the technologies availability throughout the year. The words ‘bae’, ‘budtender’, ‘indyref’, ‘normcore’ and ‘slacktivism’ also made the list.
However, the top word was ultimately awarded to ‘vape’, which refers to electronic cigarettes.
Despite it missing out on the top spot, recognition of the term is still positive for the payments industry, which has not featured in Oxford Dictionaries’ word of the year for several years. The term ‘credit crunch’ was the last appearance, and was the winner back in 2008.
Source: www.talkingpayments.com, www.blog.oxforddictionaries.com