Cash no longer king in Wakefield as contactless payments surge

Wakefield has seen one of the biggest rises in cashless payments in the UK since lockdown.

Friday, 27th August 2021, 3:25 pm
Updated Friday, 27th August 2021, 3:26 pm
Contactless payments are on the increase.

Since May, 86.9 per cent of all transactions have been cashless, according to the study by financial technology firm, Paymentsense.

Halifax is the leading area in the country with 90.6 percent, followed by Hull with 90 per cent, Ilford with 89.6 and then Wakefield in fourth place.

Wakefield also saw the second biggest increase in cashless payments in the UK, jumping up 19 per cent. Only York had more with 21 per cent.

More people have been turning to card payments to avoid touching cash and potentially spreading Covid.

Jon Knott, head of customer insights at Paymentsense, said: “Coronavirus has changed our lifestyles and habits considerably.

"While there are some things we can’t wait to resume again - like hugging loved ones and travelling abroad, some changes will be here to stay.

"Alongside contactless becoming more prevalent we’re also seeing assisted AI payments and innovative payment tech becoming increasingly available to the mass market.

"This means that more convenient, easy and quick payments are more accessible to consumers.

"However, as technology advances we expect to face a different range of issues.

"There needs to be consideration for those who are not as technologically savvy.

"They must still be able to access more traditional types of payment who serve these people. As long as the most vulnerable in our communities are able to access digital payments, their success is likely to soar.”