Adult chatting use debit card

25-Feb-2018 10:33

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This decrease, in part, highlights that sterling's purchasing power abroad has weakened considerably since the Brexit vote.

The average monthly spend per card outside the UK increase by 0.8% to £32 during October 2017.

This page contains consumer credit and debt statistics - including statistics on credit card debt, card ownership, fraud, debit cards, bankruptcies and more - compiled by a UK. Statistics on this page will be updated periodically.

Card ownership and use The volume of card payments - in particular, debit card payments - is forecast to increase substantially over the next decade.

October 2017 saw spending abroad increase for the fourth consecutive month.

Although increased activity was reported in October 2017, the number and value of payments were lower than a year ago, by 11% and 13% respectively.

This gap highlights the fact that most spending was driven by full payers using their cards as a means of payment rather than for borrowing.

As card acceptance has been proven to provide significant benefits to businesses, the number of retailers accepting cards continued to increase to just over 1.0 million, while the number of outlets amounted to 1.3 million.

Around 32 million adults (60% of the population) have a credit card.Black Friday sales In November 2017, UK retail sales increased by 0.6% on a like-for-like basis from November 2016, when they had increased 0.6% from the preceding year.On a total basis, sales rose 1.5% in November, against a growth of 1.3% in November 2016.Online spending has been growing in prominence in recent years, driven by the proliferation of smart phones and tablets.

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Of the £174.5 billion in card spending during the quarter, 27% was via the internet.Of this total 100 million were debit cards ( 0.8%); 59 million credit cards (-0.7%) and 5 million charge cards (-4.6%).

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