Cash use down by 14% over last 5 years – BRC Survey

“The recent pattern of spending on larger but fewer products on credit cards shows that customers are now feeling more confident than they did a year ago and reflects the wider consumer outlook of cautious growth.

 

Customers are using less cash than ever as retailers make it easier and more convenient to shop and pay. New data reveals that a growing proportion #

“Cash use down 14 per cent in the last five years is a milestone in the development of our digital economy. It shows that customers are embracing digital shopping whether online or on the high street and retailers are adapting and evolving to meet the demand with excellent services. However, it is important to note that cash still remains dominant in the overall number of transactions.

 

Customers are using less cash than ever as retailers make it easier and more convenient to shop and pay. New data reveals that a growing proportion #

“It is really disappointing that the average cost of accepting both credit and debit cards have increased over five years, while cash costs have gone down. Interchange fees cost the retail industry and its customers almost £1 billion in 2013. The much-welcomed European proposals to cap how much banks can charge retailers to process card payments are close to final approval, but in the meantime, we continue to work with the UK Government and Payment System regulator to implement caps on UK fees without further delay, as has happened in other European countries”.

 

Customers are using less cash than ever as retailers make it easier and more convenient to shop and pay. New data reveals that a growing proportion #