Cash still used in over half of high street transactions, report says #cashisking
Most shoppers still pay for goods with cash, when in British shops, according to a new analysis of payment habits.
The British Retail Consortium (BRC) examined 10 billion payments made in 137 shops, not online, during the year 2012.
This accounts for 60 percent of all retail sales made in the country, bbc.co.uk reports.
It discovered that while transactions made using debit cards and vouchers increased, the majority of people still hand over cash when buying an item in person.
54 percent preferred to use pounds and pence, suggesting there's still a need for secure cash collection from the high street.
The analysis also discovered that use of online payments and money-off coupons had also grown, although still represented a tiny fraction of the sales.
Credit card use fell, telegraph.co.uk writes, for which the BRC believes the unfair addition of fees and charges is to blame.
Overall, retail sales were found to have fallen by 11 per cent on the same period last year. While 23 per cent of the retailers polled said they had seen improved sales, 33 per cent reported the opposite.