why the low-paid and middle-aged have most to lose

why the low-paid and middle-aged have most to lose

Cash has become the least popular major payment method for the first time, figures from the British Retail Consortium show.

The use of physical money has fallen behind both debit and credit cards as the UK heads towards becoming a cashless society.

In 2018, cash was used for 20.4pc of the £381 billion spent on purchases, the lowest proportion ever, according to the latest figures. Debit cards were used for 56.8pc of transactions, and credit and charge cards for 21.5pc.

“Non-card transactions” via PayPal or store cards made up 1.3 per cent of all purchases.

In 2017, cash was used for 22pc of purchases, beating credit and charge cards at 20.8 per cent, while debit cards were still the most popular…

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