The United Kingdom is swiftly becoming a cashless society. Despite a new pound coin introduced in 2017, the research organization, PPRO Group says that 59.4% of citizens believe that the UK will be a cashless society within the next 12 years (some say within two years). Physical money is fast becoming redundant in today’s increasingly connected society with a third (33%) of UK citizens claiming that they never use cash anymore.
Unsurprisingly, millennials using only digital currency is at 51%, while more than two thirds of the older generations hold on to their cash. Only 27% prefer to shop online. More than 26% of the UK population already finds it irritating when they have to pay by cash rather than by card.
More businesses than ever are also becoming cashless. Airlines for example, often don’t accept cash for on-board purchases anymore.
In the UK, £288 million was spent through mobile contactless payments in 2016 over 38 million transactions, a 247% increase on the year before.
Around 20% of all mobile contactless payments were in pubs, bars and restaurants, which are places morel likely to take in cash. Supermarkets accounted for 54%.
It’s not just coins and paper money which are being used less and less in today’s society, ATMs have less use with 44% of people saying that they rarely use them to get cash anymore.
The value of non-cash payments in the US and UK will reach $46 trillion and £1.44 trillion respectively by 2026, research from global law firm Paul Hastings revealed last year.
“The UK is swiftly moving towards a new currency or cultural phenomenon – the cashless society,” said Simon Black, CEO of PPro Group. “The popularity of mobile and contactless payments clearly demonstrates the acceptance of change when it comes to payments in the UK.”
Still yet to come, and getting closer every day, is the total removal of cash from the UK economy. This would herald a new era of complete control by bankers and elites over the citizens of the UK and other countries that follow her. There is no way to impose religious laws with economic sanctions unless there is a predominately cashless society.
“And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.” Revelation 13:17.