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Why bank cards may be heading the way of the cheque book

The £100 cap on contactless card spending is lifted today — but digital wallets matter more for future growth

Do you take your bank cards with you when you leave the house, or use your smartphone to pay for everything?

It’s an issue that divides Britain, with surveys suggesting that around half of UK consumers have largely ditched their physical wallets in favour of digital ones, with Gen Z leading the way.

Tap your phone to pay, and there’s no hard limit to what you can spend in one go. Biometric ID used to verify payments means this is more secure than tapping a contactless bank card, or punching in a Pin.

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