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Is Offering Contactless Payments Worth It?

Carrying cash is becoming increasingly rare, particularly for the UK’s urban youth. Millennials can buy almost everything they want (provided it’s under £30) with a tap of a card or their phone. From a tube or bus ride to paying for coffee, food and drinks and even an uber home, all without once resorting to coins or notes.

The ease of contactless payments has spurred a cultural shift, embraced by the younger and more tech-savvy generations, who opt for cards and phones and are happy to go for days or even weeks without using, or even carrying, coins or notes. Many older generations prefer to stick with the tradition of physical money started in the Bronze Age, though many use a hybrid of cards and cash, with far fewer using their phones. Once consumers h ...

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