Would you feel comfortable going cashless?
A new report has said that the ability to pay by cash is at risk of disappearing.
Cash use has fallen dramatically in recent years; in 2017 debit card use surpassed the number of payments made by cash in the UK for the first time.
Contactless payments have fuelled the shift away from cash; as card machines are more readily available, many people rely on digital payments through online banking, contactless cards, and contactless payments through smartphones.
At the current rate of decline, the report predicts by 2026 cash will no longer be in use.
Businesses and retailers are already refusing to accept it, citing the cost of handling it as a determining factor.
The report warns that unless cash is protected, millions of people in the UK could be left vulnerable, including rural communities where alternative ways of paying are impacted by factors like poor broadband.
People with physical or mental health problems and the homeless also find it difficult or impossible to use digital services, and rely on paying by cash to live.
In Sweden, which is almost completely cashless, there is infrastructure in place to make sure the most vulnerable still have access to cash. This includes ensuring local shops can offer cash back, there is good access to ATMs, and mobile banks that can reach rural communities.
What do you think? Would you feel comfortable going completely cashless? Or do you still use and rely on cash to pay bills and sundries? Share your views at Speakers Corner.
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