The group said one reason for the slower growth rate is that the debit card market is approaching maturity. The decline has been sharpest for debit cards. And this year there is no sign of the seasonal spending boom.
Elizabeth Phillips, director of the CCRG, said: "It appears that the Bank of England's efforts to rein back the economy are beginning to bite, although it is too early to assess the full extent of the slowdown."Reuse content