Newspaper article The Journal (Newcastle, England)

40 Million Payments on Cards Every Day in 2016

Newspaper article The Journal (Newcastle, England)

40 Million Payments on Cards Every Day in 2016

Article excerpt

MORE than 40 million card payments took place every day across the UK last year typically, according to an industry body.

The UK Cards Association said 14.8bn card transactions took place across 2016, equating to 40.5m per day and 469 per second.

Consumers spent a total of PS647bn using payment cards last year, as the appetite for making contactless and online card payments grew.

Total card spending in 2015 came to PS620bn, with 13.4bn card transactions taking place in that year.

Spending using contactless "tap and go" cards helped to boost last year's increase, with contactless payments accounting for PS25bn of spending in 2016, compared with PS7.75bn in 2015.

The Association said the number of card purchases reached a record monthly total of 1.3bn in December 2016, up by 13m on November.

It said the increase was partly a reflection of the Christmas shopping season and the price discounts on offer, notably on Boxing Day.

Nearly a quarter of total card spending by value in December was made via the internet. …

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