Interesting article, but I am not sure I agree with RBR conclusion that the absolute growth in ATM transactions is proof that customers still like cash.
For many cash is still a "necessary evil".
If you look at the numbers in the article, Sainsbury´s are predicting cash withdrawals to increase by 3 million in December compared to last December. That´s an increase of 1.8%.
According to the latest figures from the UK Cards Association, purchases are growing at over 6% year on year. This suggests to me that POS growth is still outgrowing ATM, demonstrating the continued trend away from cash.
I suppose one conclusion is that cash is proving stubborn and whilst it is declining as a percentage of total spend, it is still growing in absolute terms. This should provide motivation for merchants and the schemes to plug the acceptance gaps.
04 Dec 2013 10:01 Read comment
Dave CottinghamManaging Director at Real Consulting Services
Mike McCormackManaging Director at PALMA ADVISORS LLC
Jason MaceManaging Director at Gala Technology
Chris JenkinsManaging Director at TORA
Svetlio TodorovManaging Director at emerchantpay
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