Debit card spending reaches record high in July as pandemic accelerates growth in online shopping
Oct16

Debit card spending reaches record high in July as pandemic accelerates growth in online shopping

Debit card spending in the UK reached a record high of £59.1 billion in July, data published by UK Finance has revealed. This is up almost a fifth (17.9 per cent) compared to the previous month and an increase of 9.4 per cent compared to July last year. Credit card spending in July amounted to £15 billion, an increase of 15 per cent compared to the previous month, but 24.8 per cent below levels seen last year. The figures suggest that...

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UK Finance proposes next steps for Open Banking
Jun18

UK Finance proposes next steps for Open Banking

A future model for how the UK’s world-leading Open Banking (OB) functions can continue and progress once the current implementation phase ends early next year is set out today in a new report, Open Banking – Future State, by UK Finance in association with Accenture. Open Banking is a secure way to share financial information across multiple providers and is used in products such as account aggregation, where customers who have...

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