CryptoMediaClub
Tuesday, July 29, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home All news

Cash Payments on Rise in U.K. for Second Year in Row

06.12.2024
A A
0
121
VIEWS
ShareShare

Cash was used for one in five purchases in the U.K. last year, although debit cards remain the most popular payment method.

Cash Usage Grows in U.K.

The share of transactions involving cash payments in the U.K. rose to 19.9% in 2023, according to research conducted by the British Retail Consortium (BRC). Analysts noted that cash usage increased for the second consecutive year, up from 18.8% in 2022. By comparison, last year’s study showed that cash payments accounted for 15% of retail transactions in 2021, a drop from 30% in 2020.

Analysts attribute the decline in cash usage to COVID-19 restrictions. However, the recent increase reflects a partial economic recovery post-pandemic and highlights the continued importance of cash as a payment option for a significant portion of consumers. The overall value share of cash payments in 2023 stood at 11.2%.

Debit cards remain the dominant payment method, accounting for approximately 62% of all transactions and 66.7% of all spending. Combined, debit and credit cards made up over 75% of transactions and 85% of total expenditures. The total number of transactions increased from 19.6 billion to 21 billion, while the average transaction value dropped from £22.43 to £22.03.

As card payments continue to dominate, the BRC called on the Payment Systems Regulator (PSR) to implement reforms, citing a lack of transparency and justification for rising processing fees imposed by banks and card issuers. Retailers’ total payment processing fees rose by over 25% YoY, leading to extra costs of £380 million. In 2023, the total fees paid for card processing in the U.K. reached £1.64 billion.

Comprehensive cryptocurrency regulations in the U.K. are expected in 2026, according to the Financial Conduct Authority’s (FCA) roadmap. Cryptocurrencies may offer a more cost-effective alternative to traditional banking and card payments, as highlighted by Max Krupyshev, CEO of CryptoProcessing.com, during the Purpose Driven FinTech podcast.

Сообщение Cash Payments on Rise in U.K. for Second Year in Row появились сначала на CoinsPaid Media.

Share9Tweet6ShareSharePin2

Related Posts

BNB ($BNB) Bulls Charge Ahead to $843, Can Institutional Momentum Push It Higher?
All news

BNB ($BNB) Bulls Charge Ahead to $843, Can Institutional Momentum Push It Higher?

28.07.2025
0

BNB ($BNB) rocketed 6.2% to $843 in 24 hours, but parabolic rallies rarely last. As institutional money floods in and...

Read moreDetails
Bitcoin Market Cycles and BTC Rallies Are Outdated

Bitcoin Market Cycles and BTC Rallies Are Outdated

28.07.2025
Bitcoin Price Prediction: Global Firms Pour $86B Into BTC – Could This Trigger a New “Institutional Supercycle”?

Bitcoin Price Prediction: Global Firms Pour $86B Into BTC – Could This Trigger a New “Institutional Supercycle”?

28.07.2025
Vietnam Launches National Blockchain Platform for Data Verification

Vietnam Launches National Blockchain Platform for Data Verification

28.07.2025
Meme Coin Supercycle? DOGE Price Up 50%, BONK 150%, FLOKI 80%

Meme Coin Supercycle? DOGE Price Up 50%, BONK 150%, FLOKI 80%

28.07.2025
Load More
Next Post
Bitget Launches GMCI Meme Index on Its Futures Trading Platform

Bitget Launches GMCI Meme Index on Its Futures Trading Platform

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Ethereum Foundation reveals spending after speculation over massive transfer

Ethereum Foundation reveals spending after speculation over massive transfer

11 months ago
Bitcoin hash rate resumes uptrend – poised to retest 400 TH/s ATH

Bitcoin hash rate resumes uptrend – poised to retest 400 TH/s ATH

2 years ago
NFT project y00ts to return $3M grant as it ditches Polygon for Ethereum

NFT project y00ts to return $3M grant as it ditches Polygon for Ethereum

2 years ago
Polymarket bettors forecast 75% chance Bitcoin reaches $120k in 2025 as prediction volume jumps 30%

Polymarket bettors forecast 75% chance Bitcoin reaches $120k in 2025 as prediction volume jumps 30%

3 weeks ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Bitcoin Price Prediction: Global Firms Pour $86B Into BTC – Could This Trigger a New “Institutional Supercycle”?

Vietnam Launches National Blockchain Platform for Data Verification

Meme Coin Supercycle? DOGE Price Up 50%, BONK 150%, FLOKI 80%

Over 99% of Banking Transactions in Australia Conducted Online

One-Click Cloud Mining: PAXMINING Opens Doors for XRP & Digital Asset Users

Senate Democrats Question Housing Agency Over Crypto in Mortgage Plans

Trending

Bitcoin steadies near $114,800 but fragility risk rises as leverage climbs
Analysis

Bitcoin steadies near $114,800 but fragility risk rises as leverage climbs

29.07.2025
0

Bitcoin (BTC) rebounded from a local low near $114,800, closing last week about 2.1% higher at $119,580...

BNB ($BNB) Bulls Charge Ahead to $843, Can Institutional Momentum Push It Higher?

BNB ($BNB) Bulls Charge Ahead to $843, Can Institutional Momentum Push It Higher?

28.07.2025
Bitcoin Market Cycles and BTC Rallies Are Outdated

Bitcoin Market Cycles and BTC Rallies Are Outdated

28.07.2025
Bitcoin Price Prediction: Global Firms Pour $86B Into BTC – Could This Trigger a New “Institutional Supercycle”?

Bitcoin Price Prediction: Global Firms Pour $86B Into BTC – Could This Trigger a New “Institutional Supercycle”?

28.07.2025
Vietnam Launches National Blockchain Platform for Data Verification

Vietnam Launches National Blockchain Platform for Data Verification

28.07.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz