Visa Data Shows 45% Debit Card Growth in the UK

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Visa Debit Cards Growth Rose 45% in UK  (from Financial Times on 1-19-2011) By James Wilson in Frankfurt Published: January 18 2011 18:42 | Last updated: January 18 2011 18:42 UK consumers used Visa cards for £1 in every £4 spent last year after strong growth in e-commerce and the use of debit cards, according to the card processor. Transactions carried out with Visa debit cards rose 45 per cent to £251bn ($400bn) in Britain, said Visa Europe, which is owned by 4,000 of the continent’s banks. The data revealed on Tuesday by the card processor has been interpreted as evidence of a growing preference among consumers for debit cards instead of cash. The UK’s Payments Council, an industry body, said last month that the use of debit cards had outstripped that of cash for the first time. Read More at Financial Times

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