Consumer Intelligence, a market research company specialised in the financial services and insurances sector, carried out a survey on 1,050 adults aged 18 years and older. The survey found that two out of five adults are giving less to charities because they admit carrying less cashMoney in physical form such as banknotes and coins. More – or none at all – compared to a year ago. Indeed, there has been an average drop in donations per person by £14.
In the UK, consumers have been quickly switching to contactless payments even for smaller purchases (39%) – although they must exceed £30, the minimum for a contactless. Of those surveyed, one third said they still used cash for purchases of £30 or less.
Respondents admit to giving less and blame it on their empty wallets. For this reason, the Church of England is now carrying out a trial on contactless transactions to evaluate if its worthwhile to receive collections that way.
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