Carding Forum
Professional
- Messages
- 2,788
- Reaction score
- 1,363
- Points
- 113
According to a study by The UK Cards Association, the use of cash from payment cards has more than doubled in the UK over the past decade. So last year, the British spent £ 520 billion ($ 870 billion) using payment cards .
The study found that Brits spent £ 520 billion on goods and services using their debit and credit cards in 2021, up 6.7% from 2020 and £ 244 billion more than in 2015.
Currently, in the UK, almost 3/4 of all retail spending comes from payment cards. For example, in 2015 such payments were less than half. People continue to abandon the cash money and checks.
The UK currently has 95.7 million debit cards issued, up 5.1% from 2020. At the same time, the number of credit cards decreased by 1.9% to 55.4 million. Unpaid credit card funds account for 4% of the total outstanding loan market in the UK.
On average, in 2021, debit cards were used for 94 purchases for a total of £ 4,000. In total, debit cards were used for 8.4 billion purchases worth £ 378 billion. In addition, over the past 5 years, the use of cash has decreased by 14 % due to customers' preference to pay with debit cards.
According to experts, by 2023, the total amount of payments using payment cards will amount to £ 874 billion. An increase in the number of online purchases and the use of contactless cards for purchases of goods and services with a low value is also expected. In addition, merchants using mPOS terminals will also help buyers use payment cards more often.
As a reminder, according to a study by thinkmoney.co.uk, 25% of UK internet banking users share their data with other people.
The study found that Brits spent £ 520 billion on goods and services using their debit and credit cards in 2021, up 6.7% from 2020 and £ 244 billion more than in 2015.
Currently, in the UK, almost 3/4 of all retail spending comes from payment cards. For example, in 2015 such payments were less than half. People continue to abandon the cash money and checks.
The UK currently has 95.7 million debit cards issued, up 5.1% from 2020. At the same time, the number of credit cards decreased by 1.9% to 55.4 million. Unpaid credit card funds account for 4% of the total outstanding loan market in the UK.
On average, in 2021, debit cards were used for 94 purchases for a total of £ 4,000. In total, debit cards were used for 8.4 billion purchases worth £ 378 billion. In addition, over the past 5 years, the use of cash has decreased by 14 % due to customers' preference to pay with debit cards.
According to experts, by 2023, the total amount of payments using payment cards will amount to £ 874 billion. An increase in the number of online purchases and the use of contactless cards for purchases of goods and services with a low value is also expected. In addition, merchants using mPOS terminals will also help buyers use payment cards more often.
As a reminder, according to a study by thinkmoney.co.uk, 25% of UK internet banking users share their data with other people.
