Feeds

Brits now spend more on debit cards than rustle or jingle money

Ballistic plastic shrinks nation's bulging wallets

Build a business case: developing custom apps

British shoppers are for the first time spending more on their debit cards than in cash, according to banks.

The 1.7 billion debit card transactions in the first eight months of this year were worth £272bn, compared to £269bn for cash, the Payments Council said today. Spending on plastic during the August bank holiday relegated cash to second place for the first time.

The gap is set to widen. In the third quarter, tills rang up £73.1bn on debit cards, up almost 11 per cent on the same period in 2009, with an extra 1.6 million transactions per day.

The payments industry expects the take-up of Oyster-style contactless debit cards to further draw consumers away from folding or jingling money.

"Cash is too cumbersome for many consumers these days - they prefer a card for anything more than the smallest transactions," said Payments Council spokeswoman Sandra Quinn.

"We now expect our debit cards to be accepted everywhere we go - in pubs and clubs, at the corner shop, online and on the high street."

The long decline of cheques also continued, with banks keen to phase out the relatively expensive-to-adminster system in 2018.

It's not all good news for the plastic-money biz, however, with credit cards declining in popularity. Total borrowing has remained static since 2005, and fallen when inflation is accounted for; meanwhile the number of cards in circulation has plummeted by 14 per cent to 60.7 million. ®

Build a business case: developing custom apps

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
No, thank you. I will not code for the Caliphate
Some assignments, even the Bongster decline must
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Barnes & Noble: Swallow a Samsung Nook tablet, please ... pretty please
Novelslab finally on sale with ($199 - $20) price tag
Ballmer leaves Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Banking apps: Handy, can grab all your money... and RIDDLED with coding flaws
Yep, that one place you'd hoped you wouldn't find 'em
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
Call of Duty daddy considers launching own movie studio
Activision Blizzard might like quality control of a CoD film
Primetime precrime? Minority Report TV series 'being developed'
I have to know. I have to find out what happened to my life
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
Scale data protection with your virtual environment
To scale at the rate of virtualization growth, data protection solutions need to adopt new capabilities and simplify current features.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?