Card Spending Reaches Record High in June

UK Finance, the financial trade association has released its latest figures on card payments in the UK and it further illustrates the move away from cash in our retail and hospitality establishments.

– In June 2017, total card spending was £57.1 billion, an increase of 0.3% on May and 7% on the same month the previous year.

– Just under 1.4 billion card payments were made in June 2017, a monthly record and a 12% increase over the last 12 months.

– The debit and credit card share of total retail sales was 77% in June.

– Contactless payments accounted for 34% of all card transactions.

It is stats like these which is why Bleep are soon to launch their ISO certified Payment division, Bleep Payments, which will offer card payment processing and merchant services.

Gordon Bolton, Managing Director of Bleep UK PLC commented: “Bleep UK PLC have championed the growth of card payments for many years and have predicted this move away from cash. We have pioneered the launch of contactless payments in this country via the London 2012 Olympic Games and it is exciting to see them firmly taking off across the UK.“

“Our decision to launch Bleep Payments and offer merchant services directly has come about because of this and we cannot wait to officially launch this to the industry!”

To find out more about Bleep Payments, or to speak to one of our Payments Managers call 020 8961 5200.

Source: http://www.retail-systems.com/rs/Record_Month_For_UK_Card_Payments.php