Online Plastic Transactions Worth £60bn by 2014

Debit and credit card transactions over the internet will be worth up to £60 billion in real terms by 2014, research has suggested.

Figures from the payments association Apacs show that 22 million adults in the UK made a purchase online last year as confidence grows in the web as a place to buy goods and services.

The recent trend that has more and more people using debit and credit cards online is expected to continue to grow hitting 1.2 billion transactions a year within a decade.

"Shopping online has of course grown alongside plastic card use ? one can't happen without the other," said Sandra Quinn, director of communications at Apacs. "However, credit cards are far more popular for online payment than debit cards; a direct reversal of card use in other retail environments.

"We believe the unique consumer protection afforded by credit cards ? such as additional cover for lost or damaged goods ? is a key driver in this pattern."