Cash becoming extinct?
In Britain, less than half of consumer payments were made in cash last year.
Click here for reuse options!Britain has passed another milestone on the path to a cashless society, with 2015 the first year that cash was used for fewer than half of all payments by consumers.
Cash usage will be eclipsed by debit cards and contactless payments by 2021, according to Payments UK, which represents the major banks, building societies and payment providers.
In 2015 cash made up 45.1% of payments, compared with 64% in 2005, and is expected to fall to just a quarter by 2025. It will largely be replaced with payments by contactless cards, which have soared in popularity.
Copyright 2016 Liberaland
3 responses to Cash becoming extinct?
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oldfart May 23rd, 2016 at 10:12
Three problems, hackers, solar flares and poor people.
DogsRgoodpeople May 23rd, 2016 at 12:14
cards ain’t gonna be worth a damn when the lights go out
robert May 23rd, 2016 at 13:42
Micro chip cards + RFID readers = better think of something else : (