Posted 12/7/2023, 12:05:39 AM
Cash Transactions Rebound in UK for First Time in 10 Years, But Card Payments Still Dominate
- Cash usage grew in 2022 for the first time in a decade, accounting for 19% of UK transactions according to a British Retail Consortium (BRC) report
- The increase reflects a return to pre-pandemic cash habits and giving customers payment choices amid more card-only stores
- GB News' "Don't Kill Cash" campaign fights for vulnerable people relying on cash as more places go cashless
- Card payments still dominate at 76% of transactions; retailers spent £1.26 billion on card processing fees
- Average transaction values fell and frequency rose; number of transactions grew from 17.2 billion in 2021 to 19.6 billion in 2022