London Cashless by 2036
6-22-2016
Electronic currencies will replace cash in the UK within 20 years, and possibly even sooner in London, according to three quarters of people surveyed by London & Partners. The survey of more than 2,000 consumers at London Technology Week demonstrates results in line with recently released MasterCard data finding the use of contactless payments across the UK has increased by nearly 330% over the past year. United Kingdom consumers have proven avid electronic payments users , having recently cleared $3B in contactless payments in just 12 months. Also supporting London & Partners outlook on cash-less, Visa predicts that nearly half of all London’s transactions will be completed via mobile device by 2020.
Read the London & Partners survey results here.
About ETA
The Electronic Transactions Association (ETA) is the global trade association representing more than 500 payments and technology companies. ETA members make commerce possible by processing more than $6 trillion in purchases in the US and deploying payments innovations to merchants and consumers. Learn more: www.electran.org.
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