Retail & Wholesale

Plastic eclipses paper as card payments soar

Research by the UK Cards Association reveals that three quarters of retail spending is now conducted by card, with transaction volumes topping £600bn during 2014. Total retail card payments increased by 12% last year, with use of contactless payments up by 331%. The trend towards increasing card usage was welcomed by the Federation of Small Businesses who said retailers could benefit from efficiency savings as less cash will need to be counted or deposited. Data released by the Payments Council last month revealed that electronic forms of payment now account for 52% of all transactions.
Posted 2 hours ago.


Note: News bulletin content has been provided by a third-party and is not the opinion of Santander.

Other Articles

When you’re an established business, recruiting top talent in all the areas you need can seem like a never-ending challenge.


If you’re a start-up or small business, how can you put together an attractive employee package to appeal to top talent – graduate and…


Mexico is predicted to become one of the world’s top 10 economies in the next 10 or 20 years.

Stop fraud

More than one million incidents of financial fraud occurred in the first six months of 2016, according to official figures released by…

Santander’s Head of SME International Mark Collings discusses why exporting to new global markets may provide businesses with new and…

Where Next?