Consumers made 19.7 million contactless transactions across the UK in May 2014, according to research released today by Visa Europe.

The figure represented an 18% increase on April 2014, while May's £126.7 million also represented a new record for the total value of transactions made by contactless cards in the UK in a single month.

Visa Europe said that more than 37.8 million contactless cards have now been issued by UK banks, which is up 35% on the same period last year. Meanwhile, the average UK transaction value for contactless cards in May 2014 was £6.43 – up 34 pence year on year.

The Visa figures comes as phone network EE revealed that mobile contactless payments can now be used on London buses by its customers who have downloaded the 'Cash on Tap' mobile app.

It follows last week's EE announcement that its customers will soon be able to pay for their travel on London's train network by using the mobile app, as an alternative to the Oyster Card.

The Cash on Tap service launched last year through a partnership with Mastercard, and EE says it is due to be compatible with over 500,000 customers' handsets by the end of this year.

Pippa Dunn, chief consumer marketing officer at EE, said: "More people use London's buses than all the other bus services across the country combined, so the need for speedy and simple payment solutions is paramount.

"That's why we've been working hard to bring our contactless mobile payments service, Cash on Tap, to Transport for London's network – removing the need for customers to queue for a ticket, or hunt through their pockets and bags to find the right card."

Click below for more information:

Visa Europe

EE

Mastercard