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Cash payments overtaken by card for the first time ever

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Card payments have become the most popular form of payment for the first time ever, as cash payments continue to decline. According to new data from UK Finance, cash payments dropped by 15 per cent over the last year to 13.1 billion, while a boost in card payments in the final quarter saw them pull ahead for the first time with 13.2 billion. A huge increase in contactless payments helped tip the balance over 2017, rising 97 per cent to 5.6 billion, with an estimated 63 per cent of UK adults now using the technology regularly

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Cash payments overtaken by card for the first time ever

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