Consumers are becoming more cautious about spending on their
Neil Munroe, external affairs director at Equifax, noted that debit card transactions are on the rise, while
He was commenting on the latest figures from Apacs, the UK payments association, which showed that spending on
Mr Munroe remarked: “It is mirroring what I think we all know is happening – people are spending what they have got rather than borrowing money at the moment.”
The Apacs report revealed that total plastic card expenditure has increased 5.4 per cent compared to this time last year, reaching £94.2 billion.
Debit cards accounted for around three-quarters (74.5 per cent) of this figure, which represented a rise of approximately two per cent on the first quarter of 2008.