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Credit card spending rose six percent in 2021 as online shopping boomed in pandemic

Data from Barclaycard, which sees nearly half of the nation’s credit and debit card transactions, revealed spending on “essential” items rose 11.1 percent in 2021.

This was largely driven by supermarket shopping, which saw an overall growth of 17.4 percent, with online grocery spend surging 97.4 percent.

Shopping online proved popular throughout the year as online retail recorded strong growth of 63.2 percent compared to face-to-face retail spending, which saw a noticeably smaller rise of 0.6 percent, as shoppers continued to shop from digital devices at home and on the move.

The popularity of enjoying experiences at home, or “insperiences”, continued in 2021.

Spending on takeaways and fast food rose 62.0 percent in 2021, as consumers spent more on in-home experiences and nights in.

Jose Carvalho, head of consumer products at Barclaycard, said: “2021 was another challenging year, as the pandemic continued to hamper the UK economy.

“However, categories such

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India’s New Online Shopping Guidelines To Arrive On Jan 1, 2022

Over the last two decades, there has been a big shift in how people buy their stuff. Almost everything can be purchased online through eCommerce sites like Flipkart, Paytm, Amazon, and even groceries on BigBasket and Grofers. One thing that remains a point of concern is protecting the users’ debit, credit, and prepaid card details.

To this end, the Reserve Bank of India (RBI) is mandating new online shopping guidelines that include CoF (Card on File) tokenization. This will be effective from January 1, 2022, but this is not the first time. RBI initially allowed card transaction tokenization back in 2019 for credit, debit, prepaid cards, and now it’s being made compulsory.

What is CoF Tokenization for Credit/Debit cards?

As the name explains, it’s a process where the details of a card (16-digit number) are converted to a digital encrypted token that can be used on online shopping websites. In

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BBB warns of online shopping, puppy scams

When Christmas and the holiday season comes around, various types of online  scammers do their utmost to part consumers from their money.

Fraudsters can make almost anything into an online scam, Better Business Bureau reports: Puppies. Beauty products. “Men’s health” items like erectile-dysfunction drugs.

BBB regional offices recently issued a series of warnings about the problem. BBB’s Springfield director, Stephanie Garland, said that the nonprofit watchdog group sees online shopping scams as misfortunes that flare up around the holidays but continue year-round.

Since January 2021, BBB performed three distinct consumer surveys to learn more about U.S. shoppers and their behavior online, Garland said. What the nonprofit watchdog group found is that most consumers would rather shop local, but that the majority of them are also shopping online due to convenience factors, in part due to pandemic-era conditions but especially because they want to save precious minutes better spent with loved

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Stress factors on the rise? The online shopping ‘experience’ unravelled

Online shopping begins. Image by Tim Sandle.

For some, online shopping is a great way to pass time (and to increase their credit card spending). For others, it is a torturous experience. Even when shopping online appears pleasurable, there can be deeper issues of concern. For example, compulsive buying can be classified as a mood, as an obsessive compulsive disorder, and as an addiction.

Currys PC World has issued a study that compared people’s responses to online shopping with that during everyday activities.

Shopping online can be a source of stress and this can lead to avoidance coping behavior by consumers, or by rushing to complete a purchase and ending up with the wrong or inferior goods.

To investigate how people react when going about online shopping and how stressful an experience it can be, Currys surveyed volunteers of various ages and tracking their heart rates while they completed a

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