£50bn spent on cards for first time ever in one month!July 10, 2015
Figures from The UK Cards Association show that consumers spent £50bn on cards for the first time ever in one month. The number of card transactions rose by 6.9 million to 1.06 billion in March with the majority of spending on debit cards.
Card spending on services and retail sales grew by 10.3% and 3.6% to £26.6bn and £23.4bn respectively. Contactless and online spending continues to play an increasing role in how cards are used with contactless payments now accounting for 4.4% and internet shopping accounting for 11.5% of all card purchases.
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