UK card payments continued upward trend in 2016

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210000UK card payments continued upward trend in 201602 March 2017 | 1961 views | 0Source: UK Cards AssociationConsumers spent £647 billion using payment cards in 2016, new figures show. There were 14.8 billion card transactions in 2016, equivalent to 40.5 million transactions a day or 469 a second, data from The UK Cards Association shows.

Three-quarters of retail spending (76.4 per cent) was on payment cards. Retail spending on cards in 2016 was £298 billion, compared to £290 billion in 2015.

The majority of card spending in 2016 was made via debit cards, which accounted for £461 billion of spending. Total card spending in 2015 was £620 billion.

Contactless payments accounted for £25 billion of spending

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UK card payments continued upward trend in 2016

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There is no excuse for not taking cards

So we went to the pub. For lunch. Seven of us. Say £20 per head. £100+ quid. Say £50 quid gross for the pub. Colleague goes to order food and drinks and pay at the bar. Apologetic barmaid comes over to explain that their “card machine” is down, so she can only accept cash. Under normal circumstances I would have simply walked out, feeling it wholly inappropriate to reward such a poorly managed establishment and, as a functioning actor in a capitalist economy, done my duty to depress their lunchtime takings. Here’s what we wanted to say: This is absurd. This is 2016 not 1916. Your card machine is down? Well, so what! Are you seriously telling me that mein host has no mobile phone number capable of registering for PingIt or PayM? That none of the staff or the pub itself have a PayPal account that I can send the money to? That neither the owners nor managers not contingency planners thought to tuck an iZettle behind the bar to use when the clunky and expensive GPRS terminal fails for o...

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