Analysis: Is this the death of cash?
The contactless limit was upped to £100 in yesterday’s Budget. With the use of cash already plummeting, is this its final nail in the coffin? Retail Week reports on the implications of a cashless society.
It’s official: cash is no longer king. Covid-19 has turbocharged an already irresistible shift towards digital methods of payment that have the potential to push cash towards obsolescence in the years ahead.
The total number of ATM transactions plunged 38% in 2020, according to Link, the UK’s largest cash machine network.
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