Online card payments jump by a fifth in a year
UK Card Expenditure Statistics: August 2015
The number of card transactions made on the internet has increased by 20 per cent in the past year with consumers spending £11.5 billion online in August, according to the latest figures from The UK Cards Association.
There were 130 million card payments online in August - almost 50 a second - up from 108 million in the same period last year.
Just as contactless technology is driving the use of cards instead of cash for lower value payments, consumers are also using cards for smaller purchases online too. The average value of an online card transaction has dropped by £8.44 in the past year, down to £85.27.
Overall, more than a fifth (22.4 per cent) of all card spending is now online.
Almost half (47 per cent) of all card spending on financial services is online - the highest proportion for any sector. Only 7 per cent of the total card spending on food and drink is online, although this has increased from 5 per cent in August 2014.
In total, all card spending increased by 0.5 per cent during August to reach £51.1 billion. There were 1.1 billion card transactions in the month.
Richard Koch, Head of Policy and The UK Cards Association, said:
"Whether it’s on the move using a mobile device, at work or home, the rise in online transactions shows how increasingly important the internet is in our everyday lives. Card payments are central to this transformation, enabling companies to do business online and consumers to make safe, reliable transactions.”