Cards continue to grow at the expense of cheques
Huge change in UK payment methods as cards continue to grow at the expense of cheques and cash.
Payments UK – the trade association for the payments industry, have just released their annual report for 2016, showing that debit cards will overtake cash as the most popular payment method in 2018.
Debit cards were used 11.6 billion times last year – a growth of 14% in a year. Credit cards were used 3.7bn. times, up 9%. and the trusty cheque continues its slow decline, used just 417 million times last year, a drop of 14%. Read the full report here...