Brits reaching for cards over cash, UKCA

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UK payment card spending in January was £57.1 billion, up by £0.5 billion on December and £5 billion year-on-year, according to the UK Cards Association (UKCA). Online spending amounted to 27% of that total, with 176 million purchases worth £15.3 billion.

Richard Koch, Head of Policy at UKCA, says: “Payment card spending continued to increase in January, as did cards’ total share of retail sales. These figures once again show consumers’ preference to reach for cards instead of cash when they pay for goods and services.”

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