London Cashless by 2036

Electronic currencies will replace cash in the UK within 20 years, and possibly even sooner in London, according to three quarters of people surveyed by London & Partners. The survey of more than 2,000 consumers at London Technology Week demonstrates results in line with recently released MasterCard data finding the use of contactless payments across the UK has increased by nearly 330% over the past year. United Kingdom consumers have proven avid electronic payments users , having recently cleared $3B in contactless payments in just 12 months. Also supporting London & Partners outlook on cash-less, Visa predicts that nearly half of all London’s transactions will be completed via mobile device by 2020.

Read the London & Partners survey results here.