A UK supermarket predicts contactless payments via mobile phones will outstrip cash within a decade. UK retailer, The Co-operative, has predicted that the volume of mobile payment transactions at its stores will outstrip the use of cash by 2025. In a report published on Monday, it said that in 2017, there were more than 10 million payments made using contactless cards and smartphones, with an average value of £2.50. It cites the three-fold rise in the volume of mobile payment transactions over the last year as evidence of this growing trend.
UK retailer, The Co-operative, has predicted that the volume of mobile payment transactions at its stores will outstrip the use of cash by 2025. In a report published on Monday, it said that in 2017, there were more than 10 million payments made using contactless cards and smartphones, with an average value of £2.50. It cites the three-fold rise in the volume of mobile payment transactions over the last year as evidence of this growing trend.