Digital Payments Overtook Cash Transactions in 2014 in the UK
According to the Payments Council, cash transactions in the UK fell to 48% of overall payments last year, down from 52% in 2013. This comes as no surprise, given the international rise of popular social payment services such as Snapcash, Squarecash and Venmo, as well as the already mainstream use of Paypal to shop online. These services, along with debit cards and digital currency trade, have collectively overtaken payments in physical bills andcoins as of last year. It is expected that in about a decade cashless payments will account for £28.8 billion, as opposed to £12.7 billion in cash....
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