Property News · July 12, 2017

Cash no longer king as contactless payments soar in UK stores


Landmark moment as cards now account for more than half of all purchases, according to British Retail ConsortiumIs this the tipping point that signals the beginning of the end for cash? For the first time, notes and coins have been toppled from their position as the UK’s number one payment method. Cards now account for more than half of all retail purchases, according to the main body representing shops.The new figures from the British Retail Consortium show that 10 years after their introduction in the UK, and following an initially lukewarm reaction, contactless payment cards have finally won over the British public. Contactless cards – also known as “wave and pay” and “tap and go” – now account for about a third of all card purchases, up from 10% as recently at October 2015. Continue reading…

Source : theguardian.com
Read more…Cash no longer king as contactless payments soar in UK stores

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