Debit and Credit Cards Dominate UK Retail Spending, Survey Finds
- Debit and credit card retail transactions increased to 81% in 2020
- Up from 78% in 2019
- Latest annual payments survey by the British Retail Consortium (BRC)
According to the British Retail Consortium’s (BRC) latest annual payments survey, debit and credit card transactions have surpassed four out of every five pounds spent in retail during 2020. This marks an increase from 78% in 2019. The report highlights the growing reliance on digital payment methods amidst the pandemic.
Factuality Level: 10
Factuality Justification: The article provides accurate and objective information based on data from a reputable source (the British Retail Consortium’s annual payments survey), and it presents the information in a concise manner without any digressions or unnecessary details. It does not include any exaggeration, repetition, bias, or logical errors.
Noise Level: 6
Noise Justification: The article provides relevant information about a recent trend in retail transactions, but it could benefit from more analysis or context on the implications of this shift and how it may impact consumers and businesses. It also lacks actionable insights or solutions.
Financial Relevance: Yes
Financial Markets Impacted: This information impacts companies that accept card payments, such as banks and payment processing firms.
Financial Rating Justification: The article discusses the shift in consumer spending habits towards debit and credit cards, which can affect financial institutions and businesses involved in payment processing.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the last 48 hours.
www.retailsector.co.uk