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Supermarkets take 58p of every Retail Pound

A report from the Payments Council has revealed that in 2011 supermarkets took 58pc of the entire retail spend in the UK. This means that almost 60p in every pound spent on the high street goes to supermarkets, a figure that is up from 48p compared to 2001, and marks an all time high.

The report also revealed a change in the payment culture of consumers, who are increasingly using plastic in the form of debit cards to make payments, although it is thought that contactless payments made through mobile phones could soon overtake this as the preferred method.

In 2003, 43pc of all retail payments were made using cash, but this has fallen to just 30pc, even though the majority of payments made are for under five pounds.

Chief Executive of the Payments Council, Adrian Kamellard said: “Even recent innovations such as payment via mobile phone, which ten years ago some felt to be science fiction, will soon be commonplace. The 2000’s were the decade of the credit card”

“The 2010’s are likely to be the decade of the mobile phone. Many people will soon wonder how we used to be so dependent on cash and cheque – 20 years from now even cards may seem archaic”.

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