As discussed in previous articles, consumer habits are
leading to an increased use of cashless payment services. While
Covid-19 has accelerated acceptance rate, cash
usage has been declining throughout the years. According to UK Finance, they fell by 15% to 9.3bn
transactions in 2019. Just 23% of settlements were processed in fiduciary
money, in contrast to 58% a decade ago. However, it should be noted that it
was still the second most popular payment method after debit
cards in the United Kingdom.
Fewer people are using cash
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