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Notes from the field

Notes from the field

Rise of contactless payment means cash is no longer king

Rise of contactless payment means cash is no longer king

The move to a cashless society is making steady progress across most of the world. In the UK, for example, more than 50% of transactions were completed cashlessly last year (https://rob.al/2yzozhH), while in China, UnionPay's rapid push in to new markets (as diverse as Malaysia, DRC, and Kazakhstan https://rob.al/2Kd4sdL) demonstrates the sheer scale of the opportunity, with the pace of change hardly altered by the introduction of a new competitor (NetsUnion https://rob.al/2IhFMvN). But there's rightly growing concern about those being left behind (https://rob.al/2KcwHti) and the solutions for that problem are yet to be discovered.
https://rob.al/2yzozhH
UK spending on debit cards overtook hard currency for the first time in 2017

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2018-06-22

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