Two in five ready to ditch cash if cards are universal

A total of �2.1bn-worth of contactless payments were made in July
A total of �2.1bn-worth of contactless payments were made in July
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More than two in five Britons would be ready to ditch cash completely if card payments were accepted everywhere, a survey suggests.

Some 44% of people surveyed for Mastercard claimed they would abandon altogether if they could pay by card anywhere they liked.

Those aged between 25 and 34 were the most likely to give up cash, with nearly two-thirds (62%) in this age group saying they would pay only with cards if they were universally accepted.

The limit for making a single contactless payment was increased by £10 in September 2015, to £30.

Nearly one in four (24%) people surveyed think cash will cease to exist within their lifetime - rising to two-fifths (41%) of 25 to 34-year-olds.

Figures from the UK Cards Association showed this week that contactless card spending has topped £2 billion in the space of a month across the UK for the first time.

A total of £2.1bn-worth of contactless payments were made in July, the Association said.

Some concerns have been raised around the security of contactless payments, although the Association has said fraud on contactless cards is rare and considerably lower than overall card fraud.