18 June - James Luck

The growth of paying without cash

Paying without cash continues to grow at a pace.... Three reputable bodies have detailed the sea change in their reports over the past year.

" Cash transactions fell by 69% year-over-year globally in 2020 as consumers pivoted to digital payment channels due to the pandemic, according to a McKinsey and Company’s Global Payments report of 2020. Only 28% of all transactions were done in cash in 2020 in the U.S. compared to 51% in 2019, the report stated. https://mck.co/35yUkoR ."
“Nearly half of the consumers (48%) in the U.S. said they would not shop at a store that offers only payment methods requiring contact with a cashier or shared machine like a card reader,” making it essential for businesses to offer alternative payment methods, according to a Visa study published last year.
https://vi.sa/3gCgyMW "
"NFC payment use has increased over the past year. Digital commerce spending via NFC mobile retail payments, QR code payments and digital banking bill payments are expected to reach $11.6 trillion by the end of 2021, compared to $10.5 trillion in 2020, according to a recent Juniper Research report. Mobile commerce transactions will jump to 79% of all digital commerce transactions by 2025 compared to 71% in 2021 the report stated.https://bit.ly/2ScsSdE "

If you want to embrace the NFC cashless revolution - look thru' our website and see how we can help. https://www.kashing.co.uk
#payments #mobilecommerce #unattendedretail #contactlesspayments 

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Kashing Limited is a company registered in England and Wales - No: 08957266
Kashing Limited is registered with the Financial Conduct Authority as a Small Payment Institution. Our Financial Services Register number is 630463.