UK credit and debit cards - statistics & facts
In Britain, credit and debit cards have continued to grow in popularity as a means of payment. It has been forecasted that both credit and debit card purchases will continue to grow in the UK. In the case of credit cards, the card issuer (usually a bank) creates revolving credit accounts and grants a line of credit to the cardholder. Debit cards allow the holder to spend money using funds deposited with the card provider institution. In March 2020, the value of card purchases on debit cards reached over 52 billion British pounds, while credit card transactions accounted for 12.89 billion British pounds.
