Breaking News
News that Card Payments have now Overtaken Cash for the First Time
“The UK is swiftly moving towards a new cultural phenomenon – the cashless society. In fact, our latest research[1] shows, that if given the option, 26% of us would never choose to pay cash when buying an item in a shop and more than a quarter of us (26.35%) find it irritating when we have to pay by cash rather than by card. The new figures from the British Retail Consortium showing that card payments account for more than half of all retail purchases, should not come as a surprise but does conclusively prove that cash is on its way out and electronic payment methods are here to stay.
Physical money is fast becoming redundant in today’s increasingly connected society with a third (33%)[3] of the UK stating that they never use cash anymore. The popularity of mobile and contactless payments demonstrates the changing payment landscape in the UK, lessening our dependency on cash.
PPRO Group’s latest findings are mirrored by the fact that 38 million transactions were made in 2016 using mobile payments, accounting for £288m[2] spent using mobile phones, an astonishing 247% increase on the year before. Pubs, bars and restaurants made up for 20% of all mobile payments processed and ‘Meal Deal’ hotspots for workers buying lunch – such as supermarkets and grocery stores – accounted for 54%, further emphasising the decreasing demand for physical cash.
In the digital age, cashless payment methods are king.”
Simon Black, CEO PPRO Group
- TSAM London: Finastra Talks Operational Efficiency and Achieving Seamless Connectivity Read more
- A Decade (Plus!) of Innovation: IFGS 2026 Proves the UK is Still the Beating Heart of Global Fintech Read more
- Ethos Collaborates with Liberty Mutual to Deliver a Modern, Digital-First Life Insurance Experience Read more
- Simply Business Launches Insurance App for Small Businesses in ChatGPT in the U.S. Read more
- Germany’s Akbank AG Successfully Completes First Phase of Core Banking Migration to Mambu in Partnership With Innovance Read more
Ethos Collaborates with Liberty Mutual to Deliver a Modern, Digital-First Life Insurance Experience
Ethos and Liberty Mutual Insurance, announced they are working together to expand the reach of Liberty Mutual's direct-to-consumer life insurance offering
Simply Business Launches Insurance App for Small Businesses in ChatGPT in the U.S.
Simply Business, a digital insurance marketplace for small businesses, announced the launch of its business insurance app in ChatGPT in the U.S
Germany’s Akbank AG Successfully Completes First Phase of Core Banking Migration to Mambu in Partnership With Innovance
Akbank AG has successfully completed Phase 1 of its core banking transformation, to the leading SaaS cloud banking platform Mambu
Hippo Appoints its EVP & Chief Strategy Officer Stewart Ellis to Its Board of Directors
Hippo announced the appointment of its current EVP and Chief Strategy Officer and former Chief Financial Officer, Stewart Ellis, to the Company's Board of Directors
FCA Spearheads Global Action to Stop Illegal Finfluencers
The FCA has led international action to stop illegal finfluencers putting consumers' money at risk
VWFS UK Strengthens Commercial Vehicle Offering With New Insurance Partnership
VWFS UK has appointed Wrisk Transfer Limited as its preferred insurance provider for Volkswagen Commercial Vehicles
tGBP Listed on Coinbase
Coinbase, the world’s most trusted crypto exchange, today announced the listing of tGBP, a fiat-backed stablecoin denominated in British Pounds. This initiative is a core component of Coinbase’s international expansion strategy to support local currency stablecoins, advancing the mission to create a more open, accessible, and efficient global financial system.
TSAM London: Finastra Talks Operational Efficiency and Achieving Seamless Connectivity
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
A Decade (Plus!) of Innovation: IFGS 2026 Proves the UK is Still the Beating Heart of Global Fintech
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
Ethos Collaborates with Liberty Mutual to Deliver a Modern, Digital-First Life Insurance Experience
Ethos and Liberty Mutual Insurance, announced they are working together to expand the reach of Liberty Mutual's direct-to-consumer life insurance offering
Simply Business Launches Insurance App for Small Businesses in ChatGPT in the U.S.
Simply Business, a digital insurance marketplace for small businesses, announced the launch of its business insurance app in ChatGPT in the U.S
Germany’s Akbank AG Successfully Completes First Phase of Core Banking Migration to Mambu in Partnership With Innovance
Akbank AG has successfully completed Phase 1 of its core banking transformation, to the leading SaaS cloud banking platform Mambu
Hippo Appoints its EVP & Chief Strategy Officer Stewart Ellis to Its Board of Directors
Hippo announced the appointment of its current EVP and Chief Strategy Officer and former Chief Financial Officer, Stewart Ellis, to the Company's Board of Directors
FCA Spearheads Global Action to Stop Illegal Finfluencers
The FCA has led international action to stop illegal finfluencers putting consumers' money at risk