Wednesday, April 14, 2010

Not using your cash? Well most others are not either...

Is Cash King?  This is British data, but I am supposing the American dollar would at least mirror the trend to a "cash-less", meaning less cash , used in basic transactions.  I know this would reflect my own hapits...How about you???

From ChartPorn: Coins and notes will be used in less than half of all transactions within five years after payments made by cash slumped from 73% to 59% over the past decade, according to new research.  The Payments Council says cash is "king no more" after a study of payment trends between 1999 and 2009 found debit card spending was now the most popular - quadrupling to £264bn last year. The council predicted in 1999 that just over one billion cheques would be used by individuals in 2009, but the figure in fact fell to 577m.  Cheques are proposed to be phased out completely by October 2018, although the council said even if no action was taken, the volumes would more than halve to just 248m in that time, making up just 0.8% of all personal payments made.
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