Paying for goods using cash will be regarded as “peculiar” within a decade, the head of Visa in Britain has claimed.
Kevin Jenkins, UK managing director of the transactions processing network, said the total amount spent on the company’s plastic cards rose by 8.3 per cent to £600 billion last year.
Transactions using so-called contactless cards — debit and credit cards that are brushed over a reader rather than having to be inserted — more than doubled to 160 million.
Contactless has now gone “mainstream”, Mr Jenkins said, revealing that two major supermarket groups, which he declined to name, would this year roll out the technology so that the cards could be used in all their stores across the UK.
So far Tesco has introduced