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Payments Industry in the United Kingdom, November 2012 (Free)

Payments Industry in the United Kingdom, November 2012 (Free)

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Cash and electronic payments are heavily used in the United Kingdom while check use has declined dramatically. Cash is primarily used for small transactions, but payment networks and financial institutions are looking to replace the use of cash with NFC-based payments for transactions under £20. Despite the strong push for contactless payments, the technology has yet to take off. Telcos, banks and payment networks have entered the race for mobile payments, which aim to revolutionize the way Brits pay.

Author: Jacqueline Murphy


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