Plastic 'fantastic'

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Plastic 'fantastic'

Consumers are enjoying spending on plastic more than ever before, UK payments association Apacs has commented.

The group estimates that consumer spending has increased from £87 billion to £321 billion between 1996 and 2006, a change of 269 per cent.

Debit card spending has been particularly strong during the period, with some £195 billion spent in 2006, some 427 per cent more than the £37 billion spent a decade earlier.

Sandra Quinn, director of communications at Apacs, said: "The last ten years have seen a rapid rise in the popularity of plastic, with debit cards showing particularly strong growth."

She added: "Consumers enjoy the ease and convenience plastic cards bring and today most retailers and supermarkets take plastic, as do an increasing number of professional service providers."

By 2016, Ms Quinn said spending on plastic would account for 89 per cent of growth in payment volumes in the UK by 2016.

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