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How does this fit with the fact that the Bank of England has announced the the amount of cash in circulation has doubled in the last ten years?

The Bank of England, issuers of banknotes and coins in the UK, announced last week that the amount of cash in circulation has doubled in the last 10 years. I have no doubt that electronic payment is increasing at a rapid rate. As a result, I see a paradox. Everyone in the IT world believes that cash will reduce in usage, yet the amount of cash in circulation is increasing, not just in the UK but in the US, Germany and much of southern Europe. It does not add up.

And Finextra published a report a few days ago from the Bank of England stating that the amount of cash in circulation in the UK has doubled in the last 10 years. 

I woul be interested in your views on the two western countries where cash is far more prevalent - Germany & the US.

Sorry, but I agree with KS. There is a lack of trustworthy alternatives. My experience of pensions and investment management companies is that they are run for the benefit of shareholders and senior management, who receive their returns & pay and benefits regardless of the performance of thier investments. Investors are bottom of this pile. The UK stock market is lower today that on 1st January 2000, and very few pension / investment companies have beaten the market. Cash, on the other hand, has seen a 75-100% return during the same period - interest rates were much highe up until 2008.

I am entertained by the fact that 833 people surveyed by Research Now believe thar cash will be obsolete in four years. Who are these people? In a seperate news note last week we are told that the amount of cash issued by ATMs in the Uk has increased each year for the last five years. Whilst there is no doubt that more payments are being made by electronic means than ever before I believe that cash still has a lot of life in it yet.

As a significant user of Mastercard ($40,000+ per anuum) and a user of PayPal, almost entirely through eBay, I am at a loss to understand the benefits. I can only assumed that this tie up is not aimed at me.

So what? Cheques have been in decline for decades. It was only a matter of time before an alternate payment method overtook them. However, what would interest me is the total volume of payments and how many are contactless. I'm interested in how this compares to cash, debit card and credit cards.

My son is on a Government apprentice scheme and is low paid. He needs to travel into central London for two days per month as part of his training. The fares are reimbursable, but only with a receipt for purchase. At £12 return the sums are significant to him. He cannot get a receipt with his Oyster card, so has to purchase tickets. No receipt, no reimbursement.

Just over 1,000 people surveyed in a country of 320,000,000 spread across 50 states. Hitesh hit the nail on the head - within that 'just over 1,000' is a mix of age groups, education, geography, income, technological familiarity as well as many other factors. The survey is a joke.