Cash remains king in UK shops

Cash remains king in UK shops

Alternative/emerging means of payment, such as online payments and money-off coupons, grew last year seemingly by 150%, although these remained a fraction of the total. But cash remains the dominant payment mechanism.

Cash is still the most popular form of payment in UK shops but the popularity of vouchers and coupons is on the rise, research has suggested.

The British Retail Consortium (BRC) analysed 10 billion retail payments in 2012 – 60% of all UK retail sales.

Cash accounted for about 54% of all transactions, but non-cash, non-card payments rose from less than 2% to 5% of the total.

via BBC News – Cash remains king in UK shops, says BRC.

See also, Business Gets Mobile.

I am a partner at Succession Plus. We are specialists in providing proactive, focused and strategic advice for SME owners to help them manage strategic Business Succession and Exit Planning.I am enjoying a career that has embraced product and service businesses at all stages of their journey. I have worked in technology, telecoms, consumer electronics, payments, media, and publishing.

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