30 April 2009
Spenders are relying on their plastic cards due to the level of security they offer, it is believed.
Tim Pie, a spokesperson from HSBC, believes their convenience is also a factor in their rise in popularity.
"It is becoming increasingly common for people to buy a round of drinks with a debit card and other convenience goods as more and more retailers are now accepting cards," the expert reveals.
However, cheque usage is on the decline, with retailers generally not accepting this method of payment, leading people to turn to their plastic cards.
With uSwitch.com, spenders can make sure they get the most out of their credit card by searching for a new deal.
Apacs, the UK payments association, recently revealed that 66% of all UK retail spending last year was carried out on plastic cards, with debit transactions accounting for two-thirds of all spending.