POUND NOTES
SURGE IN ONLINE SPENDING
BRITS spent a record £59.1bn on debit cards in July amid signs that the coronavirus pandemic is accelerating the trend towards internet shopping. Debit card spending surged by nearly a fifth month-on-month and was also up by 9.4% compared with July 2019, UK Finance said.
It suggested that, amid ongoing economic uncertainty, people may be choosing to make more small purchases on their debit card, rather than credit cards, which are typically used for “big ticket” purchases such as white goods and holidays.
Credit card spending remained below levels seen a year earlier.
Online card spending also reached a record high of £21.8bn in July, reflecting a strong shift towards online shopping as the pandemic has accelerated trends in consumer behaviour.
TEENS OPT FOR FOOD DELIVERIES
NEARLY a third (30%) of under-18s use food delivery services every week, according to the research from Direct Line Life Insurance.
Nearly a fifth (19%) of young people yet to reach adulthood use food delivery services once a week, a further 11% use them several times per week.
The findings were based on a survey of parents, 43% of whom said they also use delivery services because they are easy to access.
NO-PURCHASE CASHBACK PLANNED
PEOPLE will be able to get cash back from many shops without needing to buy anything under proposals to protect the UK’S cash system.
Measures being considered by the Government could result in cashback without a purchase being widely available from retailers of all sizes in communities across the UK.
A six-week “call for evidence” has been launched by the Government to seek views on how to ensure the industry continues to offer ways to withdraw and deposit cash, how to improve cashback, what affects cash acceptance, and where regulatory responsibility should sit.