It’s the last day of September and LINK report an ATM peak earlier (12.38) of 6,349 transactions in one minute. However, last week (week ending 27 September) saw a 36% reduction in cash ATM withdrawals compared to the equivalent week last year: Source: LINK Helpfully, LINK produce a graph detailing the reduction in cash ATM withdrawals from 2017 through to […]
However, last week (week ending 27 September) saw a 36% reduction in cash ATM withdrawals compared to the equivalent week last year:
Source: LINK
Helpfully, LINK produce a graph detailing the reduction in cash ATM withdrawals from 2017 through to 2020:
Source: LINK
Digital payment habits formed during COVID certainly seem to have become sticky.
The cash withdrawal ATM data from LINK aligns with the PSR who report that, in May, a Which study found that nearly half of all people who previously used cash for shopping, now pay entirely with a debit or credit card following the outbreak of Covid 19 and a further 25% have replaced some of their cash purchases with cards – use of cash for shopping since COVID-19.
This blog is from the latest edition of my newsletter “Payments, Payments, Payments”, read, subscribe and share at:
Focussed on the changing payments landscape in the UK, using social media to share payment insights. Previously Bacs’ CEO. http://www.northeypoint.co.uk
Payments, Payments, Payments Newsletter