Cashless payment becoming increasingly popular in UK

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November 13, 2012 – According to a research conducted recently by Clydesdale and Yorkshire Banks cashless payment is getting more popular in the UK. Nearly one out in three people (29 percent) take out less than 10 percent of their income in cash. 8 percent even do not withdraw any money in cash at all.
The research points out that people would be happy to pay smaller sums (even less than one pound) cashless, three quarter of the surveyed persons would pay without money less than £5. People carry, indeed, not much money on them any longer: 30 percent have up to £10 in their pockets and only 5 percent more than £50.
However, there are voices stretching that people do consider more attentively how much they spend when paying in cash and, of course, there are many challenges to resolve before even the UK will become a ‘cashless zone.’

Read an article on this topic by Richard Giedroyc here.