Cashless Britain advances as contactless and debit cards thrive

Fewer than half of consumer payments were cash in 2015, while direct debits were worth 1.22tn

Britain has passed another milestone on the path to a cashless society, with 2015 the first year that cash was used for fewer than half of all payments by consumers.

Cash usage will be eclipsed by debit cards and contactless payments by 2021, according to Payments UK, which represents the major banks, building societies and payment providers.

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