20 October 2017
visit www.avoka.com

Plastic spending hits new high

11 February 2004  |  7585 views  |  0 card swipe till

Continuing growth in debit card payments helped push plastic card transactions in the UK to record highs in December 2003 according to figures from the Association for Payment Clearing Services (Apacs).

With a 12.2% climb in transactions to 328 million, debit cards accounted for 63% all plastic card spending in December. For the year as a whole, debit cards accounted for 64% of all transactions and 53% of the value spent on plastic cards.

Sandra Quinn, director of corporate communications of Apacs, says: "Debit cards are now firmly established as the nation's leading, and growing, non-cash payment tool of choice. 2003 was another year in which their use accelerated, at the expense of both cheque and cash usage."

According to Apacs, £22.7 billion was spent on plastic during December 2003, up from £19.7 billion in the previous year. The number of transactions also rose 11.7% year-on-year to reach 519 million in December 2003.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Banks slip on chip and PIN timetable

Banks slip on chip and PIN timetable

26 January 2004  |  6766 views  |  0 comments
Yahoo! uses stored value cards to take P2P payments global

Yahoo! uses stored value cards to take P2P payments global

15 December 2003  |  5606 views  |  0 comments
Finexpo: Barclaycard looks to maximise returns from Chip and PIN

Finexpo: Barclaycard looks to maximise returns from Chip and PIN

30 September 2003  |  7388 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.vasco.comvisit www.capgemini.comvisit www.innotribe.com

Top topics

Most viewed Most shared
satelliteGates Foundation backs Ripple collaboratio...
8394 views comments | 13 tweets | 10 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
8209 views comments | 21 tweets | 26 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
7370 views comments | 9 tweets | 17 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
6748 views comments | 10 tweets | 21 linkedin
Eight banks form joint venture to launch blockchain trade platformEight banks form joint venture to launch b...
6408 views comments | 14 tweets | 23 linkedin

Featured job

Competitive base + commission + benefits
New York City, NY - USA

Find your next job