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Is the use of Cards continuing to grow in the UK?
According to the UKCARDS Association (DEC 2015):
- The annual growth rate accelerated from 7.6% in January to 8.3% in December 2015
- Average year on year growth in the sector in 2015 was 11.4%
- Within the sectors, the financial sub-sector rose by a record 18.0%, driven by an increasing proportion of tax payments being made using cards.
- The annual growth rate of the number of purchases (11.4%) has continued to outstrip the amount spent for the last four years, highlighting a growing consumer preference to use cards more often for lower value payments.
- The number of online purchases grew annually at more than double (26%) the overall rate.
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