Credit Cards

September 2016: Money Statistics

Here is an overview of The Money Charity’s latest statistics for September 2016: Personal Debt in the UK People in the UK owed £1.496 trillion at the end of July 2016. This is up from £1.444 trillion at the end of July 2015 – an extra £1,028.50 per UK adult. Per adult in the UK that’s…

Contactless spending rise continues

The UK Cards Association has released figures showing that spending on contactless cards has grown in the first half of 2016,and has already outstripped contactless spending for the whole of 2015. £9.27 billion was spent using contactless methods between January and June of this year, this is more than the total 2015 contactless spend of…

Consumers should choose the repayment date and amount: FCA Report

The Financial Conduct Authority (FCA) has published the the reports of it’s credit card market study. The main suggestions of the study were as follows: timely prompts before promotional periods end timely information to prompt consumers to take into account how much they are borrowing and avoid over limit charges, and giving consumers the ability to…

MasterCard to buy VocaLink

MasterCard Incorporated has announced that is going to acquire VocaLink Holdings Limited for about £700 million (approximately US$920 million).

British Bankers Association (BBA) members vote in favour of trade Association merger

The BBA will now join the Council of Mortgage Lenders, Payments UK and UK Cards Association in a new trade association representing the financial services industry after 94% of its voting membership found in favour of the proposal.

Capita acquires PayPoint’s Online Payments business