Mobile and contactless payments growing in popularity in UK

The UK is continuing to embrace mobile and contactless payments as the impact of cash continues to decline, new figures have revealed. British consumers and businesses are increasingly shunning physical money in favor of card and online payments, according to the UK Cash and Cash Machines 2017 report from watchdog UK Finance. Overall, the UK made 15.4 billion cash payments in 2016 -- an 11 percent drop from the 17.2 billion seen in 2015, with the total number of cash payments being equivalent to less than half of all recorded transactions for the second year in a row. However, even this decline still meant… [Continue Reading]