UK: UK Finance Publishes Payments Market Summary 2019 Report and Announces Industry Commitment to Support Free Access to Cash

On June 12, 2019, UK Finance issued the UK Payments Market Summary 2019 report and announced that the banking and finance industry will commit to helping local communities ensure appropriate free access to cash for customers.

According to the report, in recent years there has been significant innovation in payment methods, which has diversified ways of payment for products and services. Online banking, mobile banking and contactless payments in particular have had a significant effect on how consumers pay for purchases.

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