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DebtBytes UK - Bankruptcy, Insolvency, Simple IVA & Bank Charges News UK
UK IVA and bankruptcy focused insolvency advice column for people that are dealing with problem debt, money troubles or falling behind on the bills. This advice column will provide you with information you can use. For more information visit Myvesta UK at Myvesta.org.uk.
07 February 2007
Debit Cards Win Popularity Contest
As shown by the December 2006 spending figures, purchases on credit and debit cards made up for 63% of festive retail sales.
In the final month of 2006’s festive season there were a total of 669 million credit and debit card transactions, equating to 250 transactions per second every day of December!
However, debit card spending made up 462 million of those 669 million transactions; roughly 69%. Debit cards far surpassing credit cards in popularity, resulting in a 15.3% increase in debit card charges from 2005.
Credit card spending only accounted for 197 million transactions, falling by 4% mirrored against 2005’s figures.
However, with credit and debit’s forces combined they totaled £31 billion, £19.6 billion of that sum belonging to debit cards.
Myvesta UK
In the final month of 2006’s festive season there were a total of 669 million credit and debit card transactions, equating to 250 transactions per second every day of December!
However, debit card spending made up 462 million of those 669 million transactions; roughly 69%. Debit cards far surpassing credit cards in popularity, resulting in a 15.3% increase in debit card charges from 2005.
Credit card spending only accounted for 197 million transactions, falling by 4% mirrored against 2005’s figures.
However, with credit and debit’s forces combined they totaled £31 billion, £19.6 billion of that sum belonging to debit cards.
Myvesta UK
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