UK Finance card spending update April 2023
UK Finance has released its latest Card Spending update for April 2023.
Card transactions by UK cardholders both in the UK and overseas:
- There were 2.1 billion debit card transactions in April, 5.1 % more than in April 2022. The total spend of £66 bn was 2.1 % higher than April 2022.
- There were 326.4 million credit card transactions in April, 1.4 % more than in April 2022. The total spend of £18.4 bn was 2022.
- Outstanding balances on credit card accounts have grown by 9.5 % over the twelve months to April and 49.6 % of outstanding balances incurred interest compared to 51.3 % twelve months ago.
Card transactions made in the UK by cardholders from both the UK and from overseas countries:
- There were 2 billion debit and credit card transactions in the UK in April, 4.4 % more than in April 2022. The total spend of £74.9 bn was 3.8 % higher than April 2022.
- Contactless payments accounted for 63 % of all credit card and 75 % of all debit card transactions
- There were 1.5 billion contactless card transactions in April, 7.3 % more than the 1.4 billion in April 2022. The total value of contactless transactions was £23.3 bn in April, a 12.9 % increase on £20.6 bn in April 2022.
- The number of contactless credit card transactions was 9.5 % higher than April 2022. The number of contactless debit card transactions was 7 % higher than April 2022.
The full data can be seen here.
