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UK credit card borrowing rises at fastest annual rate in almost two years

Bank of England says individuals borrowed extra £2.1bn in consumer credit in November Credit card borrowing rose at the fastest annual rate for almost two years in November, according to the Bank of England , as households took on debt to finance the rising cost of Christmas. In a snapshot covering the month of Rachel Reeves’s highly anticipated autumn budget , the central bank said individuals borrowed an additional £2.1bn in consumer credit, up from a £1.7bn increase in October. Continue reading... from The Guardian https://ift.tt/GiP1IYO via IFTTT
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Cash is king — for now: China signals it will slow transition to cashless society

With tourists struggling to access the two primary digital payment apps, Alipay and WeChat pay, Beijing has put measures in place to make cash payments easier

For 18 years, Liu Yau-li has been bringing tourists to China. In that time she’s seen the full evolution of China’s digital payment system. Twenty years ago, she says, everyone used cash. But today it’s not unusual to find places that can’t or won’t accept cash at all, particularly after the pandemic when much of the world grew wary of handling shared items.

If visitors want to enjoy convenient travel, she says, they’re better off downloading one of the major payment apps and hoping it works for them.

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