Monthly Archives: April 2017

Data from The UK Cards Association has revealed that contactless payments are continuing to rise, with one quarter of all card payments processed using this method.

In November 2016, 325 million purchases were completed using contactless debit and credit cards, accounting for 25 per cent of all card payments for the month compared to just 11 per cent in November 2015. The average contactless transaction for that month was £8.95, up from £8.03.

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Research reveals, in the UK alone, there are over 60 million credit cards in circulation (carrying over£1.5 trillion), and more than one in ten Brits don’t know how much interest they pay each month

This year, household debt has hit an astonishing £1.5 trillion high, according to data from the Bank of England. Furthermore, unsecured credit borrowed via personal loans and credit cards has increased at its fastest rate since 2005.

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