UK Residents cards in issue
Source: UK Finance
Card transactions by UK cardholders both in the UK and overseas:
- There were 2 billion debit card transactions in January, 13.4 per cent more than in January 2022. The total spend of £64.7 billion was 12.1 per cent higher than January 2022.
- There were 321.3 million credit card transactions in January, 9.9 per cent more than in January 2022. The total spend of £18.8 billion was 16.4 per cent higher than January 2022.
- Outstanding balances on credit card accounts have grown by 11.5 per cent over the twelve months to January and 51.3 per cent of outstanding balances incurred interest compared to 54 per cent twelve months ago.
Source: UK Finance
Card transactions made in the UK by cardholders from both the UK and from overseas countries:
- There were 1.9 billion debit and credit card transactions in the UK in January, 9.8 per cent more than in January 2022. The total spend of £72.3 billion was 9.4 per cent higher than January 2022.
- Contactless payments accounted for 60 per cent of all credit card and 74 per cent of all debit card transactions.
- There were 1.4 billion contactless card transactions in January, 17.4 per cent more than the 1.2 billion in January 2022. The total value of contactless transactions was £20.6 billion in January, a 26.4 per cent increase on £16.3 billion in January 2022.
- The number of contactless credit card transactions was 22.5 per cent higher than January 2022. The number of contactless debit card transactions was 16.6 per cent higher than January 2022.