12 Percent of UK Residents Switched to Digital Banking

According to Tony Moroney, Managing Partner at Beta Digital, 12 percent of UK residents switched to digital banking between March 14 and April 14; the trend follows almost all other industries where digital is now at the forefront of business; the trend in digital banking has slowly caught on in the UK, and the world; Moroney argues that “what we are seeing is the world converting to digital in just a couple of months.”; 2019 saw more than $7bn in contactless payments, a 7 percent rise in credit card usage and cash transactions dropped by 15 percent; while there is a still a place for cash the digital movement has accelerated due to the coronavirus and there is little chance it will slow down anytime soon. CrowdFund Insider

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