News
Figures reveal significant rise in number of card payments made by consumers
Data published by UK Finance has revealed that card spending totalled £57.1 billion in June – representing a 7% rise when compared to a year earlier. 1.4 billion card payments were made in June, which constitutes a 12% rise when compared to the same time last year.
Contactless payments accounted for 34% of all card transactions, the data found. Online payments constituted 13% of all transactions.
Spending in the retail sector rose by £19 million during June, to total £26.1 billion. Spending on food and drink increased to £10 billion in June.
Meanwhile, services sector spending rose by £138 million to reach £31 billion.
Richard Koch, Head of Cards at UK Finance, said: ‘Contactless payments accounted for a third of transactions in June, with consumers continuing to use their cards for lower value purchases.
‘While spending recorded a relatively modest monthly growth, the number of transactions rose at a faster rate with some 46 million card purchases made every day.’
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