Card spending

Card Spending covers the monthly value and volume of transactions across debit and credit cards, both in the UK, and of UK-issued cards across the world. This data also covers outstanding balances on credit cards, card issuance and contactless payments.

Key data highlights (updated 16 June 2020):

Card transactions by UK cardholders both in the UK and overseas:

  • There were 1.6 billion transactions on debit cards in March 2020, 4.9 per cent more than in March 2019. This reflected a total spend of £52.1 billion, 2.2 per cent more than in the same period in 2019.
  • There were 272 million transactions on credit cards in March, 1.1 per cent fewer than in March 2019. Total credit card spending was £14.5 billion in March, 12.3 per cent less than in the same period a year earlier. This coincides with the implementation of lockdown.
  • The annual growth rate of outstanding balances on credit cards contracted by 2.2 per cent in March 2020, the first time it has contracted since October 2012. The introduction of payment deferrals on 9 April 2020 will be more apparent in future months.

Card transactions made in the UK by cardholders from both the UK and from overseas countries:

  • There were 1.6 billion debit and credit card transactions in March 2020, 0.4 per cent more than a year ago. This reflected a total spend of £57.5 billion, 4.0 per cent less than in the same period in 2019.
  • 32 per cent of credit card transactions and 45 per cent of debit card transactions in the UK were made using contactless cards.
  • In total there were 683 million contactless card transactions in March 2020, a 0.7 per cent reduction from 688 million in the same month a year earlier. The volume of contactless credit card transactions was 1.2 per cent more than in the same period a year earlier and contactless debit card transactions was 1.1 per cent lower than the same period a year earlier.
  • The total value of all contactless transactions was £6.5 billion in March 2020, a 2.2 per cent increase from £6.4 billion in the same month in 2019.

LATEST DATA:

Card Spending Update - March 2020

Card Spending Update (PDF)

Total Market Data - Credit Card Statistics

UK Finance members only