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Ten million avoid cash only shops

Shops, restaurants, cafes and bars that accept cash only are missing out on millions of pounds worth of business according to new research by Ubamarket.

Research by the shopping app reveals that 20% of consumers – the equivalent of over 10 million people across the UK – consciously avoid going to any retailer who only accepts cash.

In addition, almost three-quarters (73%) of customers admit to changing their mind and not buying something having seen the size of queue in a shop.

In-app payments are fast-becoming the favourite method of payment among Brits, with 41% of the 2,000 UK shoppers questioned stating that they think all payments will be made via mobiles devices in the next five years.


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