Is wearing a purse or wallet a thing of the past?
Half of Britons said they never pay cash, with just 14% of people always carrying cash.
A Samsung Pay survey found that 52% of Brits say they never take notes or parts with them on their routine trips, instead using their cellphones to make payments.
More than a third (36%) of respondents said they only use a purse or wallet if they travel further than usual, while almost a fifth (18%) never used their.
Around 16% of Britons don’t even remember the last time they brought their wallet or purse with them – while a further 14% admitted it had been at least six months since they had used one .
The study found that overall, 83% of Britons make less cash purchases than they did five years ago. Almost three-quarters (72%) of those surveyed believed that only the elderly still used cash on a regular basis.
According to the survey, the main reasons why Britons prefer to pay for products and services with a card or a phone are fears of losing money out (24%), concerns about the hygiene of using more cash (23%) and feeling vulnerable about withdrawing money in public (22%).
More than a quarter (26%) thought it was âa big dealâ to have to count change to pay for things, and 19% efficient said it just took too long.
The study found that 73% of restaurant meals are paid for through a cashless transaction, and 64% of Britons always pay for a drink in a pub by card or phone.
The majority (83%) pay for their large groceries by cashless means, while 85% pay for their clothes and shoes by card or phone and 71% do not use cash for train or bus tickets.
More than half (52%) of haircuts are now paid cashless, and the same number (52%) of parking fees are now paid in a cashless transaction.
Research also found that 89% of people think they will come to a time when neither the cards nor the cash are used, and people will pay for everything with their cell phones. Almost a quarter of Britons (24%) think making payments over the phone is much safer and more secure than using a card or cash to make transactions.
Teg Dosanjh, Director of Connected Services and Technology at Samsung UK & Ireland, said: âIt’s no surprise that we now see so few cash transactions from customers, and when you factor in the number of stores and restaurants that shut down. fully accepting cash, it’s easy to see why.
âAdditionally, we have become more tech savvy, with an increase in the number of Brits choosing to use their phones for contactless payments, with many of us just wanting the flexibility and convenience of being able to pay however, and whenever we choose. ”