Refusal to accept cash is “creeping into the UK economy,” the expert said after a study found that the coronavirus had accelerated the transition to a cashless society.
What user groups? 34% of people say they haven’t even been able to pay with cash since March when they tried to buy something.
Grocery stores, pubs and restaurants were the most likely to experience a decline.
Natalie Keene, who wrote a report on the matter, urged ministers to act.
“The numbers show that the odd cafe is not only becoming cashless, it’s creeping into the broader economy,” said Ms. Ceeney, who wrote Access to Cash Review.
“We can’t blame individual companies – many are losing money because they can’t just take cash because their local offices are closed or some distance away. The government needs to pass laws immediately to protect the viability of that money.” As I promised years. then. Time is running out. “
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WHO? Lack of access to money is a problem for those who depend on banknotes and coins – for example for people with certain health problems or without access to a computer.
Jenny Ross, which one? One money editor said, “We have repeatedly warned of the impact of the coronavirus on an already fragile monetary system, but the government or regulators have not taken sufficient action to understand the scale of the problem.”
The Treasury Department advises giving city regulators, the Financial Conduct Authority, control over access to money in the future, and advocates the idea of returning money to the store without you having to buy anything.
David Fagleman, director of financial advisory firm Enryo, said, “Our own research shows that despite the decline in daily grocery use, nearly three-quarters of people believe the transition to a cashless society is too fast and some people are at risk of staying behind. especially vulnerable from behind. “”