UK consumers say cash is inconvenient; 12% don't carry any

The move to contactless payments might be close given that around one in eight UK consumers don't carry any cash. According to a study undertaken for Barclays Bank by Populus, 50 per cent of those surveyed said that coins and notes will become obsolete in the future. When asked about their awareness of contactless card technology, over 44 per cent of the 2,000 consumers questioned said they recognised the contactless logo at the point of sale, up from 28 per cent a year ago. More useful, nearly two-thirds said they were aware of what contactless cards can do, up from 45 per cent a year ago. "Although we are far from becoming a 'cashless society,' it's clear from our research that cash is no longer king," said Dan Wass, head of current accounts and contactless at Barclays. "It is clear that shoppers are now looking for alternative methods of payment--such as contactless." Article

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