Cashless spend is up

Cashless has continued its steady progress overcoming the use of coins and paper money.

In the UK, the latest issued figures show that the average contactless payment rose to £12 as record amounts were spent using debit cards. This is up from £9.42 in February.

The limit for contactless payments was increased in April from £30 to £45 and is partially responsible for the increase, but spending on credit cards is also down by 24.8 per cent, mostly because spending on holidays is down.