Britons' card spending up 10% in 2015
Britons spent £660bn on debit and credit card purchases in 2015, an increase of 10% compared to £602.3bn in 2014, according to the UKCA.
The report points out that card spending online was up 20%, to £210bn from £175bn in 2014, which clearly indicates that that nearly a third of plastic spending now takes place through the internet.
By the end of 2015, half of online spending took place on tablets and smartphones, up from 37% in 2014.
The latest figures reveal that £7.75bn was spent using contactless cards in 2015, compared to £2.32bn in 2014, reflecting the increase in the payment limit to £30 and the growth of contactless transport ticketing.
UK Cards Association CEO Graham Peacop said: “With the amount spent using contactless cards almost trebling between 2014 and 2015 and the payment limit increasing to £30, it is clear 2015 was the year contactless went mainstream.
“Whether buying a sandwich on the go, or paying for a round of drinks or a tube journey, contactless has become the default way people choose to pay for every day shopping.”
The report further highlights that supermarkets were the most popular destination for shoppers, which saw spending of £102bn, equivalent to one in every seven pounds spent on cards. The average supermarket shop on a card is now £24.55, down from £26.11 in 2014.
Food and drink sector represented a third of all card purchases and was the most common category for card payments. The entertainment sector accounted for 15% of purchases and saw a 20% growth in the number of payments, with 26% more card payments in restaurants.
The association forecasted that debit cards will be used for 21 billion payments in the UK, worth £856bn, by 2025.