Brits have had enough of ash – ahem – cash

This is the kind of news we love here at Contactless Cities: Cash is on the way out making way for contactless. At least this is what a new report from UK’s Payments Council says. The Council found that between 1999 and 2009 cash payments have fallen from 73% to 59%, while debit cards and contactless cards are on the rise. In 2009 alone Brits spent £264 billion  – four times as much as in 1999 – using 80 million debit cards. According to the Council, contactless cards, of which there are already eight million in use in the UK, are on the rise. The report predicts that in 2012 as many as 30 million contactless cards will be issued and that by 2050 contactless payment via mobile phone could become norm. Time for us to get up to speed with UK cities in this League!

Read the report HERE.

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