Central Banking

UK card transactions surpass cash for first time


The numbers of card-based transactions have surpassed cash for the first time in the UK, according to a report published today (June 18) by industry body UK Finance.

In 2017, UK consumers made 13.1 billion payments in cash, and 13.2 billion using cards. It was the first time cards came out ahead in transaction numbers, with earlier forecasts putting the crossover point a year later, in 2018.

Contactless payments are growing especially fast for small transactions. “The popularity of contactless

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