The Myth of the Cashless Society
May 1st, 2008 | By Contrarian Profits | Category: Featured, Financial NewsA cashless society is a great idea, but new data form Britain reveals that we’re a long way off cashless living.
According to The Independent newspaper, British shoppers spent £5bn ($10bn) more in notes and coins last year, challenging 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.