ACS chief executive James Lowman appeared on BBC Breakfast this morning to talk about the ways that convenience store customers prefer to pay for their goods and services.
Speaking to BBC Breakfast’s Steph McGovern, ACS chief executive James Lowman said: “Cash is still very important to convenience store customers, and over half of convenience retailers offer ATMs at their store.
"However, we are seeing changes in the sector with more stores now offering card payments, and a particular growth in contactless payment."
According to figures released by the Payments Council today, 52% of payments are now made up of electronic transactions, ranging from high value transactions to debit card payments, although the Council notes that 18 billion cash payments were made in the UK – worth about £250bn.
Statistics from the ACS Local Shop Report show that cash is still the most common method of payment for convenience store customers, with 81% still preferring to pay with coins and notes. However, the sector is embracing modern technology with an increase in the number of stores offering contactless payment as well as thousands offering other services like click and collect and home delivery.
More information about the ACS Local Shop Report can be found here: www.acs.org.uk/research
