New \u00a310 note suggests that a cashless society is a long way off


Chris J Ratcliffe-Pool/Getty Images

It looks as if the days of cash are numbered. Last year card payments accounted for over half of all retail transactions in the UK. Contactless payments are booming as people opt to wave a piece a plastic rather than fumbling around for change. The slow slide towards a cashless society looks inevitable.

But if cash is on the way out, why is the Bank of England bothering to replace paper £10 notes with new polymer ones this week? They might just be delaying the inevitable, but there are reasons to

To continue reading this premium article, register or login for free for unlimited access. Existing users, please log in.

Log in

  • A selection of articles hand-picked by the editors available only to account holders
  • t

  • The email newsletter delivering the top things you need to know to your inbox every week
  • t

  • Event updates, special offers and competitions