BRC’s 2024 Payments Survey shows credit card use fell from 14.2 to 12.6 per cent as higher interest rates pushed shoppers toward debit cards, rising to 64 per cent of transactions.
Cash still accounted for 19.2 per cent.
Transactions declined but values rose.
Card processing fees remain high at £1.48 billion (~$1.98 billion), more than double 2019 levels.
Cash still accounted for 19.2 per cent.
Transactions declined but values rose.
Card processing fees remain high at £1.48 billion (~$1.98 billion), more than double 2019 levels.
