Half of debit card payments are contactless in the UK

Monday 14 October 2019 00:42 CET | News

Contactless payments accounted for half of all debit card transactions in July 2019 in the UK, according to UK Finance.

As BBC News reports, citing the UK association, contactless payments were used 647 million times on debit cards during July 2019.

Other key findings:

  • the widespread use on public transport has given it a significant push to contactless payments;

  • the use of contactless outstrips debit card payments using a PIN, as well as online transactions;

  • high credit card interest rates, and a safety-first approach from consumers, mean that the growth in outstanding credit card debt has slowed in recent months;

  • the annual growth rate stood at 3.67% in July 2019.

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Keywords: UK, debit card payments, contacless payments, credit card, PIN
Countries: World