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In The UK, Cash And Contactless Are Vying To Stay On Top

PYMNTS

With cash powering 44 percent of consumer payments, it’s still a very popular method of payment — but, alternate payment methods are cutting into some of its overall share, Cleland said. today has come with the growth of contactless payments. They will only accept a card payment over £5 or £10.”.

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Cashless Payments Eroding Cash’s Dominance

PYMNTS

The firm found that 471 billion cashless payments were made around the world in 2015, up 52 percent since 2011. In the same period, ATM cash withdrawals increased but at a slower rate of 33 percent. Retail Banking Research said consumers are moving away from carrying cash and taking more advantage of alternative payment methods.