Half of debit card payments are contactless in the UK

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.