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Debit overtakes cash in U.K.

April 20, 2006

ePaynews: In the United Kingdom, debit card use outgrew cash use for the first time in 2005. Debit card use took a 37 percent share of the total and rose by 14 percent from 2004, according to the Association for Payment Clearing Services. Cash use fell by 4 percent in 2005. Credit and debit card spending accounted for 63 percent of total retail spending in 2005, up from 60 percent in 2004.

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