Worldpay finds cash purchases fell to 13% last year as pandemic hastens switch to cards and mobiles
Just 7% of in-store purchases in the UK could be made in cash by 2024, a report has forecast, after the coronavirus pandemic fuelled the switch to cards and mobile payments.
While cash accounted for 27% of in-store transactions in 2019, the latest global payments report from processing company Worldpay found that had fallen to 13% last year. The report predicts usage will continue to drop over the next three years.
