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Scoop.it!
Contactless use rose by 31% in 2018, data shows, with the technology accounting for two in five card payments. Via Graham Watson
Bruce Fellowes's insight:
I rarely carry cash thesedays and it is being the norm to pay for a coffee with your card 
Scoop.it!
Payment by plastic cards now account for three-quarters of consumer spending in stores. Via Graham Watson
Graham Watson's curator insight,
September 11, 2018 2:01 AM
A little aside - cash is no longer king. In fact, it only accounts for around 22% of consumer spending. That is because credit cards are ubiquitous, and fulfil many of the functions of money. |
Scoop.it!
Person-to-person payment apps are rising fast in popularity around the world, but are they safe? Via Graham Watson
Graham Watson's curator insight,
September 18, 2018 2:51 AM
Is the end in sight for cash - the rise of person-to-person payment apps is revolutionising shopping and even repaying your friends.
However, there are still concerns about the security of some apps.
Scoop.it!
Consumers used debit cards 13.2bn times in 2017, while the number of cash payments fell 15% Via Graham Watson
Graham Watson's curator insight,
June 18, 2018 11:42 AM
This story in the Guardian caught my eye - it's about the fact that cash is no longer king: in 2017, we spent more via debit cards than in cash.
This has all sorts of implications, not least the fact that card payments have a lower opportunity cost, and this might encourage people to spend more than they can afford. |
Another little footnote in the ongoing debate about the extent to which the UK economy is going cashless - there's been a marked rise in the use of contactless payments, with the technology accounting 40% of card payments.