BRC Payments Survey 2021

  • Andrew Cregan avatar
    Andrew Cregan Finance Policy Adviser | BRC Alumni

The annual BRC Payments Survey has been published today as covered in The Independent, Drapers, Retail Week, and print pieces in the Daily Express and The Telegraph. The full BRC press release can be found below. Please log-in below to access the full Payments Survey 2021 Report.

The Survey finds that a general movement towards card payments - spurred by the pandemic, and that retailers are being punished through the soaring cost of accepting such payments. The BRC, along with other business groups, has called on Parliament to intervene and tackle anti-competitive practices in card payments to protect British businesses and consumers from spiralling costs in the absence of effective action from the UK’s Payment Systems Regulator.

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22nd September 2021  

  • Covid has changed the way we shop,with basket size rising over 20%, while total transactions fell 13% 
  • Over 80% ofretail spending now uses debit or credit card
  • Retailers spent £1.3bn to accept payments from customers in 2020

Today, the British Retail Consortium (BRC) has published its latest annual Payments Survey, which shows that debit and credit card transactions surpassed four in every five pounds spent in 2020 (81%, up from 78% in 2019). The pandemic and digital shift mean that cash use now accounts for just 15% of total spending in retail (down from 20% in 2019), though it still accounts for 30% of individual transactions. 

The survey also reveals that the pandemic has changed the way we shop, not just how we pay; with consumers making fewer, but bigger shopping trips. While the number of transactions fell by 13% (from 19.1bn in 2019 to 16.7bn in 2020), consumers spent on average 20% more per transaction. Thus, the average transaction value increased from £20.16 in 2019 to £24.15 in 2020. 

The overwhelming trend towards card payments in recent years has meant retailers incurred costs of more than £1 billion just to accept these payments from customers in 2020. Debit cards, which accounted for over half of all transactions (54%) for the first time, have seen transaction fees rise by 22% (to 7.2 pence per transaction). Amidst a backdrop of mounting costs from Covid, Brexit, global supply chain disruption and rising commodity prices, these excessive card fees add further cost pressures to retailers. Equivalent to £46 per household per year, these additional costs can translate into higher prices for consumers. 

The BRC, along with other business groups, has long been calling on Parliament to intervene and tackle anti-competitive practices in card payments to protect British businesses and consumers from spiralling costs. Just last year, the UK Supreme Court ruled that card firm interchange fees were unlawful, yet the UK’s Payment Systems Regulator five-year strategy delivers nothing to resolve this issue. 

Andrew Cregan, Finance Policy Advisor, British Retail Consortium said: 

“The pandemic has accelerated the trend towards card payments, with more than four in every five pounds spent in retail now made with credit or debit cards. Basket sizes also rose, as customers made bigger, but fewer purchases. While cash use has declined in importance, it remains vital for many people who do not have access to other payment methods. 

“Despite the general movement to card payments, retailers are being punished through the soaring cost of accepting such payments. Parliament needs to urgently intervene in this anti-competitive behaviour by regulating card scheme fees and abolishing interchange fees, both of which ultimately hurt consumers. Card firms are abusing their dominant market position, and this must come to an end.” 



  • Data for the BRC Payments Survey was gathered in 2021 and covers the 2020 calendar year. Retailers participating in the survey accounted for 46%of all UK retail annual sales turnover. 
  • Download the BRC Payments Survey 2021 here
  • Visa and Mastercard are responsible for 98% of card transactions in the UK

The BRC sent this release to our “Payments” and “General Retail” media list(s). To check/update what media lists you are on, please contact us below: 

For media enquiries:

BRC Press Office 
Lara Conradie 
T: 020 7854 8924  
M: 07785 612 214 
E: /