Online consumers are big on credit cards when buying online, a new report has said.
The research, from UK payments association Apacs, also says that while online the credit card is king, people prefer to use debit cards for everyday transactions, with debit cards making up almost two thirds of all plastic card purchases.
Sandra Quinn, director of communications at APACS said: “We believe the unique consumer protection afforded by credit cards ñ such as additional cover for lost or damaged goods ñ is a key driver in this pattern.
“Using a separate credit card for online shopping allows you to check your statements and spot any potential fraudulent use more easily.”
Last year spending on plastic cards, at £273 billion, outstripped cash spending, and the report goes on to consider the future of a cashless society, with contactless payments systems like those being pioneered by London Transportís Oyster card likely to dominate.
Miss Quinn concluded: “In the first instance we expect to see further growth in contactless pre-pay cards like Oyster and gift cards instead of paper vouchers.”
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