BRC welcomes 'cash comeback'
The increase in consumers choosing to pay for their goods by cash is welcome news for businesses, according to the British Retail Consortium (BRC).
Richard Dodd, a spokesperson for the body, says retailers will be able to make big savings as a result of the "cash comeback".
Mr Dodd's comments come after BRC figures revealed that cash is now used for around 60 per cent of purchases, an increase of six per cent on last year.
A credit card transaction could cost a retailer up to 34p in charges, compared to a cash transaction which costs just 2p to process.
"Ultimately, of course, the extra costs do filter through to customers even if they can't be passed on directly," Mr Dodd adds.
The BRC argues that it is not trying to encourage consumers to use cash for all purchases; however, it would like the "charging regime" to be made fairer.