In the UK, people are giving up on cash

As the saying goes, “cash is king.” Well, not anymore in Britain.

For the first time, electronic debit card payments outnumbered those with physical money last year, according UK Finance. The trade association credits the rising popularity of contactless payments, as well as smartphones and online shopping, as reasons for the shift.

Consumers in the UK made 13.2 billion payments via debit card in 2017, compared with 13.1 billion using cash. Contactless payments surged, jumping 97%, to...

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