trilium banner March 2012
     

By Karen Moss

Over two thirds of shoppers in the UK believe that cash is still king, according to independent research commissioned by Wincor Nixdorf. The retail and banking technology company says the results of its study calls the idea of an imminent move to a cashless society into question.

The continued preference for cash transactions is in large part due to consumers wanting greater control over their finances. Ed Brindley, director of marketing at Wincor Nixdorf says there is definitely something psychological at work too. “Shoppers like the tangible quality of having cash in their hands. They feel that in these tough economic times cash is more trustworthy and a better reflection of their true finances than credit cards. People don’t want to spend beyond their means. In order to adopt a cashless society, the industry needs to not only ensure the infrastructure and technology is flawless, but also convince consumers that cards offer the same benefits as cash.”

Of the consumers questioned, 58 per cent save card purely for large transactions and almost a third feel more in control of their finances when paying by cash. Those surveyed also agreed with the recent decision to cancel the abolition of cheques, questioning the practicalities of a sudden change to payment methods.

And 81 per cent of consumers said they would make more use of cards for everyday transactions if offered an incentive by retailers or banks, such as a discount on purchases or extra loyalty card bonuses.

Home     More News


Other stories you may find of interest:

News in brief - September 2010
A round-up by FST

News in brief - March 2011
A round-up by FST

News in brief - January 2011
A round-up by FST

bankers accuity may 2012


six_group

tdwi


FStech Whitepapers
Are We There Yet? Zero-Wait BI for Everyone
This CITO Research white paper, examines the business benefits of enabling users to perform their own data analysis, without making continual demands on IT.
Mobility Is Exploding: Are You Ready?
Mobile business intelligence replaces static information with real-time information, empowering data-driven decisions on the spot. This paper describes use cases to for bringing not just BI, but business discovery, to the front lines of your business.
Single Customer View in Financial Service
This white paper outlines what a single customer view is and what the UK requirements are, why this represents best practice and how it can be advantageous to the business, and the techniques and technologies that will be most effective in establishing and maintaining such an approach.
TATA Consultancy Services - Cloud Computing
Cloud computing is the convergence of virtualization, distributed applications, grid, maturity of enterprise software applications and enterprise IT management.
Genesys. Sustained Management: Changing the Game with Genesys iWD
The article explains how Genesys intelligent Workload Distribution (iWD) has the power to change the game in the contact center space based on new visibility into tracking, reporting, and performance management
Research Study: The Revolution in Self-Service Channels in the Financial Services Sector
This report analyses the growth of consumer self-service channels in key areas of the Financial Services Market
Genesys. Staffing and Workload Management:
Fleshes out the importance of properly managing contact center and back office work, especially through the alignment of employee skill sets.
Genesys. The Importance of Proper Hiring, Training, Career Path Development, Skilling, and Routing
Which explains why it is imperative to implement these factors correctly in the contact center and back office to ensure competent customer interactions.
Dataflux Video

This website is a part of Perspective Publishing Limited, registered in England No 2876166.