Great news for cash.
The British Retail Consortium, which represents the UK’s “Big Box” retailers, reports that in 2022, 19% of retail sales were made using cash, as against 15% the previous year.
This means cash sales increased by more than a quarter, an unprecedented increase!
On top of that, the Consortium also reported that their members would welcome the increase in cash use, since cash is the cheapest means of payment for their member retailers to process!
Let’s hope the UK Treasury can take their eyes of the price of Bitcoin long enough to build cash into their plans for the future of payments in the UK!