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April 24, 2017

UK’s online card spending hits record high in 2016

By Patrick Brusnahan

Britons have spent £154bn using their cards online in 2016, averaging £422m per day, according to data released by the UK Cards Association.

The latest increase represents a 28% surge since 2014, when online spending stood at £120bn.

The UK Cards Association research also revealed that the British denizens spend more online per household than any other country, at $5,900 (£4,607) in 2015 that is higher than Norway ($5,400), the US ($4,500) and Australia ($4,000).

One in four card purchases online is carried out for entertainment purposes, with consumers buying cinema and concert tickets, takeaway orders and digital content.

Using cards, 1.8 billion purchases were made online in 2016, an average of 150 million a month. This is an increase of 38% from 1.3 billion during 2014.

Entertainment sales make up the highest proportion of all online purchases with 26%, while 41% of in-store card purchases are made in food and drinks sector.

The UK Cards Association head of policy Richard Koch said: “The internet enables millions of people to access services around the clock from wherever they are based.

“Payment cards have driven this revolution, providing an easy and secure way to shop online, whether it is to buy an app for your phone or a sofa for your living room.

“Since the early days of internet shopping there has been a host of innovations, from digital wallets to one click purchases, which bring enhanced security, choice and convenience for customers and which will lead to continued growth in the sector. The additional protection provided when using a card also gives consumers extra peace of mind when they are shopping online.”

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