# The future of the high street: Study reveals the first 10 cities in the UK to become cashless Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2018-04-28 Category: FINANCE Category URL: https://financedigest.com/category/finance Meta Title: New Data Reveals Top 10 UK Cities Leading Cashless Meta Description: Discover the UK cities leading the way in contactless payments, with London and Bristol at the forefront. Are cashless transactions the future? URL: https://financedigest.com/the-future-of-the-high-street-study-reveals-the-first-10-cities-in-the-uk-to-become-cashlesshtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/fd280418-7-1736842790042-compressed.jpg) New data reveals the UK cities leading accelerated growth in contactless payments with the **top 10** expected to go cashless first. - **Top ten UK cities for digital transactions** - **[London tops](https://www.financedigest.com/top-auction-houses-cancel-russian-art-sales-in-london.html "Top auction houses cancel Russian art sales in London") the chart of Cashless Capitals, with highest proportion of card transactions** - **Whereas Bristol revealed as contactless Capital** - **Only 10% of Brits likely to pay in cash** With the use of contactless almost tripling in 2016, and [forecasts expecting](https://www.financedigest.com/global-automotive-brake-system-market-is-expected-to-witness-a-rise-of-3-cagr-between-the-forecast-years-of-2020-2030.html "Global Automotive Brake System Market is expected to witness a rise of 3% CAGR between the forecast years of 2020-2030") it to make up more than one in four (27%) of all payments by 2026\*, new data released by Paymentsense reveals the UK cities leading this growth with, those in the top 10 expected to go cashless first. Analysing data of nationwide transactions from 2017, [Paymentsense](https://www.paymentsense.co.uk/) have created an interactive map exploring the UK’s cashless capitals, detailing the cities with the highest proportion of debit, credit, contactless and all transactions. To further understand [consumer spending](https://www.financedigest.com/the-impact-of-consumer-spending-on-the-market.html "The Impact of Consumer Spending on the Market") habits and opinion, payment solutions specialists Paymentsense also conducted a study of 2,000 UK residents to reveal their payment preferences. **Top ten cities for card transactions** **Sum of Transactions** **Top ten cities for contactless transactions** **Sum of Transactions** **46% UK worried about security of card transactions** 80% of Brits said card transactions, including contactless, were their favourite form of payment. However, 46% said they were worried about the security of card transactions. Could the rise of [contactless payments](https://www.financedigest.com/contactless-payments-spirit-willing-but-is-the-market.html "Contactless Payments: Spirit Willing but is the Market?") be causing this fear? Contactless payments are becoming more popular with over 24% of Brits saying it’s their favourite form of payment. Contactless transactions are more popular among younger spenders, as 41% Brits aged 18-24 said it was their favourite form of payment compared to just under 10% of people aged 55+. This suggests that even though many are worried about security, increasing numbers are using this form of payment. Spenders need to check payment amounts and be aware of the location of their cards at all times, to ensure [contactless payments maintain a high level of security](https://www.financedigest.com/contactless-payments-the-way-of-the-future-or-security-scare.html "Contactless Payments – The Way of the Future or Security Scare?"). **50% Brits want card payment solutions in car parks** Almost half of the Brits surveyed said they would like car parks to [accept card payments](https://www.financedigest.com/why-ev-charging-stations-need-to-accept-open-cashless-payments.html "Why EV Charging Stations Need to Accept Open Cashless Payments "). This was [closely followed by public transport](https://www.financedigest.com/why-investors-are-looking-closely-at-transport-and-logistics.html "Why investors are looking closely at transport and logistics") (42%) and taxis (40%). Businesses could lose out on custom if they refuse to adapt to the [contactless revolution](https://www.financedigest.com/hospitality-needs-to-join-the-contactless-revolution.html "Hospitality needs to join the contactless revolution "), as 30% people in the UK would go to another shop if the vendor didn’t accept card payments. This highlights the importance of card transactions if a business is going to be able to survive [today’s market](https://www.financedigest.com/a-brief-look-at-the-buy-to-let-market-as-it-stands-today.html "A Brief Look at the Buy-to-Let Market as it Stands Today"). Cash certainly still has its uses though, as [nearly 70% of Brits said they pay their children’s](https://www.financedigest.com/prince-william-and-kates-children-to-start-new-school-near-windsor.html "Prince William and Kate’s children to start new school near Windsor") pocket money in cash. Guy Moreve, [Head of Marketing](https://www.financedigest.com/the-head-and-face-aesthetic-procedure-market-to-have-growth-devised-on-innovation.html "The Head And Face Aesthetic Procedure Market to have growth devised on innovation") at Paymentsense, says: “As a society, we’re close to becoming cashless, as our asset highlights which UK cities are the most advanced in [terms of payment solutions](https://www.financedigest.com/automotive-navigation-solutions-market-size-and-key-trends-in-terms-of-volume-and-value.html "Automotive Navigation Solutions Market Size and Key Trends in Terms of Volume and Value"). There’s areas of the UK that are adapting to this movement, but others that haven’t [made the list need to improve and move with the times](https://www.financedigest.com/analysis-financial-literacy-or-luck-the-year-small-time-traders-made-a-big-impact.html "Analysis-Financial literacy or luck? The year small-time traders made a big impact"). “The study further highlights the average person’s diminishing availability of cash, as many struggle when it comes to everyday, cash-only [services such as car](https://www.financedigest.com/car-rental-service-market-is-forecasted-to-grow-at-a-7-2-cagr-by-2031-comprehensive-research-report-by-fmi.html "Car Rental Service Market is forecasted to grow at a 7.2% CAGR By 2031- Comprehensive Research Report by FMI") parks and taxis, and the importance of accepting card payments within these businesses.” Credit source: [https://www.paymentsense.co.uk/capital-of-card-payments/](https://www.paymentsense.co.uk/capital-of-card-payments/) **City**LONDON59,498,327BIRMINGHAM10,000,609BRISTOL8,297,118BRIGHTON6,775,089MANCHESTER5,449,368SHEFFIELD4,765,407EDINBURGH4,140,689PORTSMOUTH3,712,439LEEDS3,655,217OXFORD3,450,293**City****Contactless Transaction Rate**BRISTOL8,297,11859.50%LONDON38,514,21957.06%BRIGHTON6,775,08955.85%HULL1,960,00255.73%BIRMINGHAM10,000,60952.97%YORK2,217,56351.68%LEEDS3,655,21750.14%NOTTINGHAM3,195,92050.12%OXFORD3,450,29348.99%NORTHAMPTON2,211,40448.35% --- This blog is powered by Superblog. 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