Barclaycard Reports Significant Increase in Customer Activity
- UK retail transactions grew by 60% last week according to Barclaycard
- Barclaycard saw a 12% increase in active customers compared to the first week of April
- Total number of transactions increased by 8% compared to the previous week
- Contactless transactions rose by 10%
- Over £1.4bn worth of transactions above £45 limit processed
- Small and medium businesses experienced a 12% increase in total volume and a 9% increase in value processed
- Rob Cameron, CEO of Barclaycard Payments, expects sales volumes to continue rising
- UK businesses are resilient and adaptable
According to Barclaycard, UK retail transactions have seen a massive surge of 60% last week compared to the first week of April. The payment provider also observed a 12% increase in active customers and an 8% rise in total transactions compared to the week commencing June 7th. With more businesses opening up, consumers are taking advantage of shopping for non-essential items they missed during lockdown. Contactless payments have also increased by 10%, with Barclaycard Payments processing nearly 40.7 million transactions above the previous £30 limit. Small and medium businesses benefited from reopening, experiencing a 12% increase in transaction volume and a 9% rise in value processed. Rob Cameron, CEO of Barclaycard Payments, believes sales will continue to grow as more retailers open their stores. He also notes the potential for businesses to incorporate lockdown adaptations into their long-term strategies.
Factuality Level: 10
Factuality Justification: The article provides accurate and objective information about Barclaycard’s customers returning to trading and the increase in transactions, contactless payments, and the impact on small and medium businesses. It also includes a relevant quote from the CEO of Barclaycard Payments.
Noise Level: 3
Noise Justification: The article provides relevant information about the increase in transactions and contactless payments after easing of lockdown restrictions, but it lacks analysis or exploration of long-term trends or consequences. It also does not offer actionable insights or new knowledge.
Financial Relevance: Yes
Financial Markets Impacted: Barclaycard’s payment processing and small and medium businesses
Financial Rating Justification: The article discusses the increase in transactions and contactless payments, which impacts Barclaycard’s business and affects small and medium-sized businesses as they reopen after lockdown.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: No extreme event mentioned in the article
www.retailsector.co.uk