Bitcoin Missing Out as UK Retailers Move Away From Cash

Bitcoin Missing Out as UK Retailers Move Away From Cash

UK retailers are exploring alternative payment options and moving away from traditional cash payments due to relatively high costs, according to a new survey compiled by payments provider Sage Pay. The company's research reveals that UK retailers now spend a whopping £17.8bn (almost $30bn) a year just to process cash payments. As a result, they are looking at cheaper alternatives, but it seems most of them are staying away from bitcoin. This general trend is not new. The British Retail Consortium (BRC) has been keeping track of retail transactions for years and the volume of cash....


Related News

Are Amazon Coins designed for breakage?

Your cash has never been more valuable. Amazon is set tolaunch its Amazon Coin this month. It's an interesting move and one that paves the way for other retailers to soak up a lot of cash with very little effort. There's nothing new about companies offering gift tokens, but this is currency -- and word has it that several other large brands are developing their own versions to be wrapped in their own corporate identities. As a customer, you'd be offered cheaper goods for using their currency. For example, with Amazon Coins, you might pay less for a product than if you paid with cash. So....

Ep02- BTC Killer – Companion Guide For BBC’s “The Missing Cryptoqueen” Podcast

Let’s listen to “The Missing Cryptoqueen” podcast together from the very beginning, as the new episodes arrive. This second one presents new facets of Dr. Ruja’s story and amplifies the scope of the podcast. Good news, “The Missing Cryptoqueen” might be even more interesting than we previously believed. As BBC presenter Jamie Bartlett puts it, “we thought we were looking for a missing billionaire, but now we seem to be entering a world that’s far murkier than we thought.” Related Reading: Ep01- Dr. Ruja – Companion Guide For BBC’s “The Missing Cryptoqueen” Podcast NewsBTC’s “The....

Cash is not the enemy of bitcoin

This week in the newsroom, the question came up as to why couldn't Facebook launch a distributed, secure network and run currency and exchanges over it. It already has the user base. What's to stop them? This is almost certainly going through the minds of leaders at other large technology companies. Apple users are petitioning the company to allow digital wallet apps on the iPhone. Yet so far, the company has said no. Why? Perhaps there is a chance that it will launch its own currency. Other big retailers already have. Earlier this week, we outlined the reasons that large retailers are....

Bitpay Reveals Prepaid Cardholders Can Get up to 15% Cash Back Rewards via Se...

The Atlanta-based crypto payment services company Bitpay has announced that Bitpay’s prepaid cardholders are eligible for cash back rewards if they use their card with participating retailers. The rewards feature stems from Bitpay’s partnership with Cardlytics and cardholders can get up to 15% in cash back rewards on purchases from the service from thousands of retailers. Bitpay Partners With Cardlytics to Offer Cash Back Rewards to Bitpay Card Users Shopping at Select Merchants On Wednesday, Bitpay announced that the crypto payment firm has partnered with the publicly-listed....

Pounce Teams Up With Coinbase To Allow Shopping at Target and Other Major Retailers Using Bitcoin

Shopping at Target, Best Buy, and other retailers using bitcoin may have just gotten a whole lot easier. One-tap shopping app Pounce has teamed up with Coinbase in order to allow consumers to complete their purchases using the digital currency, opening their doors to a whole new customer base. Other retailers users can buy from include Lord & Taylor, Toys