Latest study finds where we live shapes how we pay
Online, interactive map reveals geographical payment trends across the UK The Payments Council has created an online, interactive map to demonstrate the varied payment attitudes, preferences and behaviours that can be seen in the different regions across the UK.
Online, interactive map reveals geographical payment trends across the UK
The Payments Council has created an online, interactive map to demonstrate the varied payment attitudes, preferences and behaviours that can be seen in the different regions across the UK.
The council’s research revealed that, those consumers living in the South East were most likely to have a plastic card (97%), whereas those in the West Midlands were least likely to have one (86%). And those living in the South East were are most likely to use phone or internet banking (59%), while in the North East were least likely to (46%).
When it came to cash, adults in East Anglia make the lowest number of cash machine withdrawals (51 per person annually). And fewer Scots write cheques than in any other region (20% compared to the average for Britain of 31%), while Londoners depend on cheques the most (39%). But the national average of people using cheques regularly fell by 6% between 2008 and 2009.
Research suggests narrow divide
Taking a broad North-South view, a few more Southerners held plastic cards (95%) compared to their northern neighbours (91%); but when it comes to cash withdrawals there isn’t a significant North South divide – Northerners and Southerners tend to make a similar number of cash withdrawals, both in terms of volume (59 and 58 respectively) and value (£3,855 and £3,920 respectively). There were however, more cheque users in the South, as 35% of adults regularly used cheques for spontaneous payments, compared to 27% in the North.
Sandra Quinn, The Payments Council director of communications, said: "This research, on the whole, confirms long standing trends; increasing reliance on debit cards and phone or internet banking and a noticeable decline in use of cheques. That said, while there are clear nationwide trends there are also parts of the country which stand out in comparison to the national statistics, for example the proportion of adults in the North East using internet or phone banking, which at 46% is 7% below the national average.
“Payment Regions brings together these regional variations and offers a fascinating insight into how our payment habits compare with those of our neighbours. It also demonstrates how as a nation our payment habits have evolved to take advantage of new technology and to meet the needs of our ever more demanding lifestyles."
To access the digital map, please visit The Payments Council website.