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		</div><p>In Britain, cashless payments have become more popular than transactions using coins and notes for the first time, figures from the Payments Council show.<br />
During 2014, 48% of payments made by consumers, businesses and financial organisations were in cash, down from just over half (52%) in 2013.</p>
<p>The Payments Council said that this marked the first time that the number of non-cash payments has overtaken those made with cash, reflecting the growth in technology and the use of debit cards as a handy way to pay.</p>
<p>Despite the shift, cash remains king among consumers, who used it for 52% of all their payments in 2014. But even among consumers, the Payments Council said that the number of payments being made in cash is expected to fall below half in 2016.</p>
<p>The growth of online shopping and the emergence of new payment methods such as mobile and contactless payments have challenged the dominance of cash in recent years.<br />
Around three-quarters of Britons now shop online, compared with just over half in 2008, according to a recent report from the Office for National Statistics (ONS).</p>
<p>Contactless card payments, where a payment can be made with a single swipe of the card rather than having to enter a Pin number, are also becoming increasingly widely accepted.<br />
Currently, the limit for a single contactless transaction is £20 – but from September 1 onwards a higher limit of £30 will be rolled out. In Ireland, contactless payments are limited to just €15.</p>
<p>Meanwhile, mobile payment services such as Paym, which is overseen by the Payments Council, and Pingit, which was launched by Barclays in 2012, continue to grow in popularity.<br />
The tipping point for non-cash payments overtaking cash in the UK has come slightly earlier than the Payments Council had previously expected, as 2015 had been pencilled in as the year when non-cash payments would edge ahead.</p>
<p>But its new figures show that, in fact, 2014 turned out to be the year when the number of non-cash payments started to eclipse the number of transactions using cash.<br />
During 2014, 18.3 billion payments were made with cash, while 19.8 billion were made using another method. In total, around £250 billion-worth of payments were made using cash in the UK in 2014.</p>
<p>The Payments Council emphasised that this is not the beginning of the end for cash, with many people still heavily reliant on the notes in their wallet.<br />
Its forecast for 2015 is that there will still be 17.9 billion cash transactions, while the number of non-cash transactions will grow to 20.4 billion.</p>
<p>Even in 2024, 12.7 billion payments are still expected to be made in cash, alongside 28.8 billion non-cash payments.<br />
Nearly 47 million people used a cash machine last year and nine in 10 (91%) consumers withdraw money from an ATM at least once a month.</p>
<p>The Payments Council said that consumers accounted for 99% of the 18 billion-plus cash payments made in the UK last year. The majority of these payments were made in the retail, travel and entertainment sectors, reflecting a need for convenience as well as the continuing presence of businesses that prefer to be paid in cash, the payments body said.</p>
<p>In 2014, 1.6 million consumers predominantly used cash, representing 3.1% of all adults.<br />
Of those who heavily rely on cash for their day-to-day life, nearly 40% are aged 65 and over, the Payments Council said.<br />
Meanwhile, 2.3 million people rarely used cash, representing 4.4% of all adults. More than half of those who rarely use cash are aged under 35 years old.</p>
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