Belfast Telegraph

Wednesday 7 October 2015

Plastic loses out due to credit crunch

Published 21/04/2008

Shoppers spent £5bn more in notes and coins last year, according to research that challenges the long-held view that Britain is becoming a cashless society.

A survey suggests the value of cash as a proportion of total spending rose from 32 to 34 per cent, the first reversal of a two-decade trend. The British Retail Consortium – whose findings were hotly disputed by payment body Apacs – suggested people wanted to put less money on plastic because of the credit crunch. Its Cost of Collection survey was based on results from 17,000 shops. The results reveal cash has increased from 54 per cent to 60 per cent of all transactions totalling £264bn.

"Reports of the death of cash are premature," said Stephen Robertson, director general of the British Retail Consortium.

From the web

Sponsored Videos

Your Comments

COMMENT RULES: Comments that are judged to be defamatory, abusive or in bad taste are not acceptable and contributors who consistently fall below certain criteria will be permanently blacklisted. The moderator will not enter into debate with individual contributors and the moderator’s decision is final. It is Belfast Telegraph policy to close comments on court cases, tribunals and active legal investigations. We may also close comments on articles which are being targeted for abuse. Problems with commenting?

Read More

From Belfast Telegraph