There was a brief article in The Times highlighting some interesting statistics about the usage and composition of debit cards in the UK that reveal some striking differences from the U.S. market:
The number of debit cards in circulation in the UK has topped 100m for the first time. The UK Cards Association said the number had doubled since 2001 and was up 2.7% year-on-year. Of the £53bn spent on payment cards in April, about £38bn was on debit cards, equal to £7 in every £10.
Also of interest is the level of contactless card which make the user experience of buying things very different in the UK:
More than 60% of debit cards are now contactless, allowing users to pay without entering a Pin.
If you are interested in getting the details behind these trends, the UK Card Association publishes statics regarding debit cards on a periodic basis. This background can be found here.
Overview by Sarah Grotta, Director, Debit Advisory Service at Mercator Advisory Group
Read the full story here
