Cash is on it’s way out
As the 1 September increase in the limit for contactless card payments from £20 to £30 arrives, a One Poll survey of UK adults commissioned by UK-based consumer credit business MBNA shows that cash could be on its way out.
With over half of survey respondents believing that cash could become a thing of the past, 60 percent of those who use contactless payment say that it is simply easier than cash, and one-third of us already have days when we don’t carry cash at all.
For those who have already taken the plunge with their contactless cards, that slightly nervous ‘first time’ required a little help from others. Thirty six percent said their first use was prompted by a sales assistant, while 24 percent of watched someone else in the queue before trying the technology and 19 percent were encouraged by a friend or family member.
Contactless payment, which involves holding a contactless payment card over the screen of a card reader machine carrying the contactless symbol, is becoming more and more popular in the UK as a quick and easy method of payment.
MBNA is embracing the increase in the limit for contactless card payments from £20 to £30 READ MORE…..