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Coronavirus caused demand for cash to divebomb 71% as shift towards digital payments accelerates

September 18, 2020

Via: Charged

Cash usage has dropped by around 30 per cent over the last decade and is expected to be used in just 10 per cent of transactions by 2028.

According to a new report from the National Audit Office (NAO) on the future of cash, the usage of physical currency is continuing to drop dramatically, accelerated further by the coronavirus.

Between early March and mid-April demand for notes and coins divebombed 71 per cent as shoppers favoured contactless methods of payment.

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