Credit and debit card spending climbs 18% in March
by myfinances.co.uk staff
Consumers' credit and debit card spending on the high street and online rose by 18% in March compared with the previous month, according to new figures.
Data from the Barclaycard Retail Card Spending Index, which covers 44 retail sectors including household goods, electronics and furniture, shows that expenditure on plastic was also 9.2 per cent higher year-on-year.
The company said that a jump in card use is expected at this time of year, as household finances start to recover from Christmas.
Commenting on the rise, Barclaycard head of UK payment acceptance Stuart Neal said: "It's good news for our retailers and I'd expect to see more increases in card spending into the middle of the year."
The company's figures come after the Payments Council predicted that within five years, cash payments will for the first time account for less than half of all consumers' transactions.
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