Credit, collections & insolvency news
Latest figures from Barclays show zero growth in consumer card spending in December, as households cut back on essential items and pub and restaurant meals in favour of spending on experiences. The data showed that consumer card spending growth remained flat in December, at 0.0 per cent year-on-year – significantly lower than the latest CPIH…
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Data from Lloyds’ Bank’s 27 million customers has shown that consumers spent over £3.9 billion on debit cards over the Black Friday and Cyber Monday weekend, a remarkable rise of 20% compared to last year’s spending. Gabby Collins, Payments Director at Lloyds said “Wow! The level of spending was way ahead of what we expected to see,…
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Card spending fell last month for the first time in more than three years, according latest analysis by Barclays. The data showed that consumer card spending fell -0.6 per cent year-on-year in June – the first decline since February 2021 and significantly lower than the latest CPIH inflation rate of 2.8 per cent – as…
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Consumer card spending growth flatlined in March, on par with February’s 1.9 per cent uplift, and significantly less than the latest CPIH inflation rate of 3.8 per cent according to latest analysis by Barclays. The data showed that retail spending remained almost flat at 0.7 per cent, brought down by falling in-store spending. Face-to-face retail…
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Consumer card spending grew just 1.9 per cent year-on-year last month, significantly lower than the latest CPIH inflation rate of 4.2 per cent and the smallest growth since September 2022. Face-to-face retail (excluding groceries) was a major contributor to this slowdown, contracting 2.2 per cent, which helped boost “Insperiences”, including takeaways and digital content, as…
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Spending on debit and credit cards rose by 4.1% in 2023 according to latest data from Barclays. Card spending was noticeably lower than the growth seen in 2022 (10.6 per cent) as consumers cut back on new clothes, eating out and home improvements amid rising inflation and household bills. However, consumers continued to prioritise moments…
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UK Finance’s latest card spending update has highlighted that there were 2.18 billion debit card transactions in June this was 8.2 per cent more than in June 2022 with the total spend of £65.3 billion was five per cent higher than June 2022. There were 368.5 million credit card transactions in June, 7 per cent…
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Consumer card spending grew by 10.6% in 2022, according to data from Barclaycard, with the amount spent on debit and credit cards climbing year-on-year as people returned to shopping in-store, eating and drinking out, and booking holidays. Spending on essential items grew by 6.3% – thanks to a 28.3% rise in fuel outlay that was…
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UK Finance has shared its latest credit and debit card data which has highlighted an increase in credit card usage in July when compared to 2021. The data showed that there were 343.8 million credit card transactions in July, 9.8 per cent more than in July 2021. The total spend of £18.8 billion was 17.1…
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The total value of contactless transactions in February this year was twice the value of previous years, after the increase in the contactless limit according to latest UK Finance figures. The figures show that there were 1.7 billion debit card transactions in February, 32.9 per cent more than in February 2021 and 15.1 per cent…
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