Check-outs ring in New Year as shoppers take more Streamline approach to payment
- Merchant acquirer, Streamline processes a record three billion card transactions in year
With continued consumer behaviour signalling that a cashless society is ever closer, Streamline – the merchant acquirer that provides businesses with the facilities to accept credit and debit card payments - today confirmed landmark transaction volumes for the year 2006.
During the Christmas period, the business recorded its three billionth transaction when at 10.07am on 22nd December 2006, the Glasgow Parkhead store of Toys R Us took payment of £14.99 for a Thomas the Tank Engine train.
The level of transactions reiterates the growing preference for card payment
over more traditional methods. The last figures reported in 2005 saw a growth of
14% in debit card usage with 6.2bn purchases being made by credit or debit card.
In addition, the number of retailers and businesses accepting card payments
reached 790,000*.
Ron Kalifa, Head of Retailer Solutions in the Consumer Finance Division at the Royal Bank of Scotland said, “The three billionth transaction is a significant milestone for the Bank. We are committed to providing our merchants with a fast, convenient and secure range of payment solutions to support their businesses.“
Mike Coogan, Marketing Director at Toys R Us added, “Increasingly, shoppers are choosing cards as their preferred method of payment. Customers want to pay quickly and easily at checkouts and with the help of Streamline we are able to make this process as consumer friendly as possible.”
* Source: APACs UK Payment Statistics 2006
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