• Anthony Duffy , Director of Retail Banking in UK & Ireland at Fujitsu


• 20.09.2016 11:45 am
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The news that the use of cash is declining comes as no surprise. The ease with which a contactless payment can be made means that they are continuing to gain traction with the public and many retailers see them as a secure and practical alternative. According to Fujitsu’s European wide consumer survey, a fifth of us would use now use new payment methods, reinforcing just how comfortable consumers are with new digital channels.

We expect the growth in plastic card usage and contactless payments to continue to accelerate, driven by three key developments – a continued shift to internet shopping; the appearance of new, additional payment options; and increased consumer comfort in using alternative payment options.

There are 3 million people in Britain who use cash for the majority of their transactions. The key reason for this is that cash cannot be overspent and it provides anonymity for customers. These attributes are not easily replicated by other payment methods and because of this, we do not see cash disappearing in the near future