Contrary to recent data published, a new Payments Council report noted that cash use in the UK is actually increasing. The 2013 report indicated that 54 percent of UK payments are made with cash. Furthermore, the ATM concentration in Britain is the highest it has ever been, with more than 66,000 cash points in the country. In 2012, £6,139 was withdrawn from ATMs each second.
British consumers told the Payments Council they prefer to use cash because it allows them to better monitor how much they are spending. Back in 2012, about 7.2 million adults made everyday purchases with cash, which was a 700,000 increase from the number of cash payment transactions in 2011.
The Head of Cash at Payments Council, David Hensley, stated, “Cash is still a vital part of our day-to-day lives, and more than half of all our payments are in cash, reflecting its easy use and wide acceptance.”
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