Updated: Jan 26, 2020
New report says we’re not ready for cashless society
The UK could become a cashless society in the next 15 years, but nearly half of Britain – or 25 million people – would struggle without access to cash, according to a new report. The Access to Cash review was commissioned in July 2018 to look into the rapid decline of the use of cash, amid concerns raised by Which? over whether people were being left behind. The report explores whether Britain is ready to go cashless – looking at trends in payments, consumer needs and behaviour and experiments in other countries – and has found without a doubt that we are not. In fact, the report concludes we are at risk of ‘sleepwalking’ into a cashless society which could cause ‘significant harm’ for millions not yet ready and still unsupported by digital innovations.
Read more: https://www.which.co.uk/news/2018/12/25m-brits-would-struggle-in-a-cashless-society/ - Which?