General Article A third of Brits expect this to be last generation using cash

Topic Selected: Money and Finance

By Stephen Harmston

 

One in three (34%) think that the country will be cashless within the next 20 years, but many remain reluctant to move away from physical currency due to security concerns about alternatives, new research from YouGov reveals.

The Cashing In report looks at how Britain is adapting to alternative payments and which groups need to be convinced about going cashless. It finds that while one in eight (13%) believe the country will do away with cash in the next decade, one in five (21%) reckon it will take between 11 and 20 years. A further fifth believe it will happen in the longer term while three in ten (29%) don’t think the country will ever discard physical currency.

YouGov’s study highlights the extent to which the country has already adopted a mixed approach to payment methods as various forms of cards and mobile payments take up more of the strain. While four in five (82%) still use cash when in-store, over two

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