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Contactless payments are taking over cash as our number one shopping method

Even over 65s are making over half of their payments on contactless

Everyone from millennials to over 65s is ditching cash for contactless cards – and pretty soon it'll be our phones, watches, or device-we've-not-even-invented-but-will-soon-be-hooked-on instead.

What it means: A new report says that for the first time ever, we made more payments on card than cash in 2017.

25 to 34 year olds used contactless for 77 per cent of their payments, and even those aged 65 and over made over half of their payments the same way.

We're not yet becoming a 'cashless society' – cash is still the second most frequent form of payment. But there's definitely a trend in the works, including one for 'wearable tech' – we're seeing more and more people making payments on watches, phones, and other gadgets (which are going make it less likely than ever that you'd 'forget your wallet' at home).

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Reader Comments

  • RW

    Your right to a degree. You mentioned “the wandering Jew”.

    I elaborate that the Jewish people, historically have tended to migrate almost exclusively to locations that are economically and culturally vibrant already. I would speculate that Jews have thrived in these places and have often improved the bounds of their economies and knowledge base.

    You can also ask; how many massive entertainment conglomerates, Nobel winners or billionaires has Isreal developed? If Jews are so capable, why isn’t Tel Aviv the Rome of our time?

    Jews are successful because they value education, maintain a strong social cohesive, they actively monitor and have a good sense for Zeitgeist wherever they are and they carefully choose the places they settle and congregate themselves heavily in these choice locations.

    But most importantly (haulocaust increased the importance of this aspect), they actually designed their culture for success. They not only attend Harvard, they use what they learned to better the group as a whole. With as much, they studied intricate networking systems, adapted to it and in many cases improved upon them. (See how Japan acquired Aegis warships and made them better).

    Of course there is nothing wrong with any of this. It’s when you elaborately gain disproportionate power in any society where you would stand out, you must take care when attempting to make a society better (Civil Rights movement) and rewriting that society all together (mass immigration). Ask blacks in China, Mexico, Philippines or India how much opportunity they have? Go to businesses owned by their American diaspora and see how many blacks they hire. Go to Silicon Valley and see how many East or South Asian tech workers wish they could work with more black people. California might work as a state, but as a nation, I think your rolling the nuclear dice here. I hope we can succeed as a tolerant pluralistic superpower but at this stage in human societal development, it’s a pipe dream.

    And if Jews really are the icon for success, they would see that fundamental human successes happen over generations. Just look at the rest of the planet? Are we ready?