News by Topic
- Search Marketing
- Email Marketing
- Loyalty Marketing
- Mobile Marketing
- Social Marketing
- Viral Marketing
- Trends & Ideas
- Internet Marketing 101
Skrill: Fumbling with loose change soon a thing of the past
New research released this week by online payment solutions firm Skrill reveals the increasing use of alternative payments and the decreasing use of cash by shoppers in the UK.
Credit cards, debit cards, digital wallets and mobile payment solutions are slowly eroding the need to carry cash in the UK.
In fact, according to UK-based Skrill, 1 in 3 UK consumers now carry less than five UK Pounds in cash ($8), barely enough to buy a coffee and snack in a cafe. One in 20 already go about their day cashless, and another 13% would be happy to give up cash today.
"Consumers are finding it quicker and easier to click a button than fumble with their change. With only 3% of payments in Sweden still made in cash, the coming years are going to see radical changes in this area," says Siegfried Heimgaertner, Skrill CEO.
In terms of the future of notes and coins, over 1 in 5 UK consumers believe physical money will disappear within the next twenty years with a third (32%) saying they believe they will use less cash over the next ten years. Already, UK consumers are using cash to pay for less than a third of their weekly purchases and become annoyed when a store they visit only accepts cash.
Over half of Brits believe digital wallets or online cash transfers will increase over the next five years, while 42% said they will use their debit cards more. Today's youngsters are familiar and comfortable with online and mobile technology, and there's little doubt the move towards a cashless society will speed up as they begin to earn and spend.
- Why brands should mine holiday data for new year performance
- Study: Mobiles don't want to be interrupted
- Olfactory device for mobile phones not to be sniffed at
- Report reveals impact of slow load times on brand perception
- Print catalogs continue to drive sales in Australia
- Study: Shoppers more focused on the end-game
- Adchemy release pulls keywords from branded content
- RocketLawyer: SMBs looking forward to 2014
Featured White Papers
- 6 Step Roadmap to Engaging Customers With Social Media
For a growing number of consumers, social media is the preferred means of gathering product information and interacting with companies....
- The Making of a YouTube Blockbuster: 10 YouTube Blockbusters
You want to create the next viral video. Sure, who doesn't? But you knowing that videos "go viral" organically, not...
- 5 Questions About Managing Social Media that You Should Ask Your Agency
This white paper provides you with 5 questions you should ask agencies to help you separate the real candidates from...
- 10 Tips to Rock the Twittersphere
Engagement on Twitter can help companies build brand awareness, strengthen customer relations and cultivate brand advocacy. These 10 tips lay...