According to a recent
report commissioned by self-service vendor, Wincor Nixdorf, 68% of
the UK population continue to use cash as their preferred form of
payment.

In the survey, 58% of
respondents said that they use a card to pay for large
transactions, while 32% felt more in control of their money when
they pay by cash.

Wincor Nixdorf’s
director of marketing, Ed Brindley, said that consumers want a
choice of payment methods and for men, cash is the preferred
option.

He added that card
payments do have some benefits, such as increased payment speed;
but argued that consumers are not ready for a cashless society.
]

 “Consumers are
more open to paying by card in the future if the technology,
security and other parts of the core infrastructure are in
place.

For now it is clear
that, as consumers seek to control their expenditure, they trust
cash more than any other payment so businesses need to meet this
demand and continue to look for ways to decrease their cash
handling costs.

However, 81% of
respondents stated that they would make more use of cards for
everyday transactions if offered an incentive by businesses, such
as a discount on purchases or extra loyalty card
bonuses. 

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