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Debit cards 'first choice for online shopping' | Debit cards 'first choice for online shopping' |
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Debit card spending by internet shoppers overtook the use of credit cards online for the first time last year, industry figures show. | Debit card spending by internet shoppers overtook the use of credit cards online for the first time last year, industry figures show. |
Online spending using a debit card hit £35bn compared with £34bn on credit cards, the UK Cards Association said. | Online spending using a debit card hit £35bn compared with £34bn on credit cards, the UK Cards Association said. |
Shoppers are also using debit cards more frequently in stores. | Shoppers are also using debit cards more frequently in stores. |
Each debit card holder made an average of 205 transactions with their cards last year, the data shows, an increase of 10 on the previous year. | Each debit card holder made an average of 205 transactions with their cards last year, the data shows, an increase of 10 on the previous year. |
Some 91% of the UK adult population have a debit card and 61% have a credit card. | Some 91% of the UK adult population have a debit card and 61% have a credit card. |
Use of these cards has increased as more shops have accepted them, and as more stores use devices such as chip-and-pin machines. | Use of these cards has increased as more shops have accepted them, and as more stores use devices such as chip-and-pin machines. |
The association predicts that spending on cards in the next 10 years will nearly double from £477bn to £840bn. | The association predicts that spending on cards in the next 10 years will nearly double from £477bn to £840bn. |
Consumer protection | |
UK consumers are among the most likely to use internet shopping across the developed world. | |
Figures from the Organisation for Economic Co-operation and Development (OECD) last year suggested that about two-thirds of UK adults ordered or bought goods or services on the internet. | |
This was a bigger proportion than any other state among the OECD's members. | |
The move to debit cards may suggest that people are becoming more comfortable shopping online - and are happy to use the card for their regular bank account. | |
However, it might also be the result of higher surcharges when using a credit card for many online purchases, rather than a debit card. | |
There is generally a little more protection with a credit card if, for example, a shopper has bought something, but the business has then ceased trading. | |
If the item cost more than £100, a shopper should able to claim from the credit card issuer under section 75 of the Consumer Credit Act 1974. | |
If the goods were purchased on a Visa or Mastercard debit card, then they may be able to claim under the Chargeback procedure. | |
Under this procedure there is no minimum limit on the price paid for the goods, but generally a claim needs to be registered within 120 days of the date the goods were bought or a deposit paid. | |
Regulator's warning | |
Get Safe Online, an organisation that promotes safe internet use, suggests that internet shoppers do some homework on a retailer before buying online. | |
Other safety tips include: | |
Last year, businesses were warned by the regulator to clean up their act when selling products online. | |
In a study of several websites, the Office of Fair Trading (OFT) found examples of unreasonable restrictions on refunds and compulsory charges being added without prior warning at the online checkout. | |
Distance sales rules state that goods should be delivered within 30 days and that shoppers should be given a seven-day cooling-off period in which they can cancel an order and get a full refund. This period is longer for financial products. |