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Card payments soar 12% in June

UK consumers made nearly 1.4 billion card payments in June, an increase of 12% on the same month last year and the highest growth rate since 2008, according to new figures from UK Finance.

Contactless payments accounted for 34% of all card transactions, while online payments made up 13%.

Total card spending reached £57.1bn in June, up by 0.3% on the previous monthh and by 7% on June 2016.

The average transaction value on all card payments fell by 16p to £41.36 in June, the lowest level since June 2000. This compares to £43.53 a year ago and £50.55 at the peak in July 2011.

Richard Koch, head of cards at UK Finance, said: “Contactless payments accounted for a third of transactions in June with consumers continuing to use their cards for lower value purchases.

“While spending recorded a relatively modest monthly growth, the number of transactions rose at a faster rate with some 46 million card purchases made every day.”

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