Credit card spending overtakes cash for first time
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Data from UK retailers suggests total card spending accounts for about 80% of sales
Credit card spending has overtaken cash for the first time, according to data from UK retailers. This means notes and coins have been demoted to the third most popular method of payment.
The figures from the British Retail Consortium (BRC) – whose members are responsible for £180bn of sales – come amid warnings that millions of adults would struggle to cope in a cashless society.
Categories Banks and building societies Borrowing & debt Business Consumer spending credit cards Money UK news