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Card payments soared to 90% of retail transactions in 2021

December 9, 2022

Via: Charged

Card payments soared to 90% of total retail spending in 2021, with 82% of transactions on either on debit or credit card, up from 75% of transactions in 2020, according to the latest annual Payments Survey from the British Retail Consortium (BRC).

The research reveals that the Covid-19 pandemic “changed the way we pay” with cash accounting for just 15% of all transactions in 2021, down from 30% in 2020.

The remaining 3% of transactions was made up of “alternative payments” such as buy now pay later (BNPL) and gift cards.

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