Average Brit carries £17.79
By Fusion Lifestyle
June 27, 2014, 1:54 pm

British consumers continue to reject cash in favour of cards.

According to Kalixa Pro a huge 71 percent of Brits admit to carrying less than £20 in cash at any one time. Even more surprisingly half of them will walk no more than 100 metres to use a cash machine.

The average Brit now carries just £17.79 in cash. This amount is even less for youngsters with 18-24 year olds carrying only £12.81 at any one time.

Kalixa Pro’s survey of 2,000 consumers in the UK reveals that the average consumer carries three debit or credit cards with them at any one time.

Card payments are by far our preferred payment method with 82 percent preferring to use them for purchases over £20.   

Cards even remain the nation’s primary means of payment for low cost items with 52 percent of shoppers opting to use a card to pay for items that cost £20 or less.  

Colin Swain, Global Head of Product at Kalixa, said: "Consumers switching from cash to card payments is an increasing trend that cannot be ignored. As a society we are increasingly reliant on cards and the flexibility they provide.

“Sole traders and small businesses are the lifeblood of the UK, however many of them are missing out on sales from their customers because accepting card payments is prohibitively expensive and not fit for purpose for their business.”