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Cashless Payments Rising, Fastest Growth In Contactless

  • The Drum, Monday, April 13, 2015 7:42 AM

Cashless payment methods have increased to account for 83.4% of all current account transactions with cash and cheque payments continuing to decline at pace, according to a new report. Cash withdrawals make up just 16.6% of all Current Account transactions, a reduction of 8.3% on last year, revealed the latest current account data from Halifax. While contactless still only makes up a small proportion of the volume of transactions (2.7%), it is seeing the fastest growth.

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