Is the UK Becoming a Cashless Society?

As reported by the Evening Standard; "No orders for new coins intended for general circulation have been sent by the Treasury to the Royal Mint this year." Furthering speculation that the UK is fast becoming a 'cashless society.'

EPOS Systems reviewed the Payment Markets Report for 2023, produced by UK Finance in collaboration with Accenture, which explores the past year’s payment trends. As suspected, cash was on the decline but debit card remained the most popular means of payment. We are pleased to share the key findings that impact the EPOS industry in our infographic below.

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