Barclaycard Retail Card Spending Index Shows April Spending Was Flat

Released on: May 25, 2010, 03:57 am
Author: Barclaycard
Industry: Financial

Barclaycard Global Payment Acceptance has released new data that shows spending on credit and debit cards in April was broadly flat with a slight increase of 0.8% from March. Barclaycard Payment Acceptance processes credit and debit card transactions for 87,000 businesses across the UK. Whilst the monthly increase was flat, the year-on-year comparison with April 09 showed an increase in credit and debit card spending at UK retailers of 8.9%.

During April, Barclaycard Payment Acceptance saw transactions peak at 12.19pm on Saturday 3rd April, with 340 transactions per second being processed. However, the busiest day for transactions overall was the 30th April, which was the Friday of the May Day bank holiday weekend when 12.7 millions transactions were processed.

The Barclaycard Retail Card Spending Index is the most comprehensive index of its kind and is based on spending on all credit and debit cards across a wide range of retail sectors, at retailers that use Barclaycard to process their credit and debit card transactions - about a third of UK businesses.

Commenting on the data, Stuart Neal, Head of UK Payment Acceptance said: "We've seen a much lower increase in retail card spending in April, although it's still positive news for retailers following the 18% increase we saw between February and March. Looking forward to next month, I’d expect credit and debit card spending to be broadly flat again."

In addition to the monthly spending index, Barclaycard has also released early figures for May, covering the May Day bank holiday weekend. Overall, debit and credit card spending over that weekend was down slightly (1.4%) on the same bank holiday period in 2009.

Commenting on the early May data, Stuart Neal said: "It seems that this May Day, consumers haven’t been tempted by retailers to get out and spend although some sectors have increased since last year with furniture stores performing exceptionally well up 15.5% on the bank holiday last year."

-Ends-

Notes to editors:
Further information about the index can be found at
http://www.newsroom.barclays.co.uk/Press-releases/Barclaycard-Retail-Card-Spending-Index-April-spending-flat-6ce.aspx

The Barclaycard Retail Card Spending Index
Barclaycard Global Payment Acceptance enables businesses to accept debit and credit cards. The data in this index relates to retailers' credit and debit card transactions processed by Barclaycard rather than purchases made with a Barclaycard.

The index does not take into account the effects of any cash payments made to retailers.

The index does not adjust for price increases/decreases but measures the value of credit and debit card spending at retailers that use Barclaycard to process their card payments.

Bank Holiday May Day data was recorded between Friday 30th April - Monday 3rd May.

About Barclaycard
Barclaycard, part of Barclays Global Retail Banking division, is a leading global payment business which helps consumers, retailers and businesses to make and accept payments flexibly, and to access short term credit when needed.

The company is one of the pioneers of new forms of payments and is at the forefront of developing viable contactless and mobile payment schemes for today and cutting edge forms of payment for the future. It also issues credit and charge cards to corporate customers and the UK Government. Barclaycard partners with a wide range of organisations across the globe to offer their customers or members payment options and credit.

In addition to the UK, Barclaycard operates in the United States, Europe, Africa and the Middle and Far East.

Key facts published in February 2010;

- number of UK customers: 10.4m
- number of International customers: 10.8m
- number of retailer/merchant relationships: 87,000

PR Contact:
Stuart Neal
Barclaycard Press Office
Barclaycard
1234 Pavilion Drive
Northampton
NN4 7SG
01604 251229
www.barclaycard.co.uk