Despite fears that millions are still dependent on criticism, the UK government has confirmed that it will not force companies to accept them.
On January 28, the economic secretary of the Ministry of Treasury, Emma Reynolds, told the Treasury Committee that “there are no plans to organize companies to force them to accept money, large or small.”
This comes as a parliamentary committee review whether companies should be required to take cash payments, amid an increasing shift towards mobile transactions and mobile phones. Legislators raised concerns about the influence on weak groups, including the elderly, those who suffer from disability, and individuals who escape home abuse.
Cards and mobile phone payments
Reynolds admitted that there were challenges, but said that the government is still working to ensure access to criticism. She pointed out that the government plans to open many places where people can banks as is the case for many people, criticism is still necessary.
“I don’t think we are anywhere near a non -critical society,” Reynolds said. “I am definitely every day, I go to many companies where they accept money.
The future of criticism in the United Kingdom
While some countries, such as Australia, are considering the rules that require basic services to accept criticism, Reynolds referred to evidence from the store association. This guide showed that 99 % of its members are still accepting money and have no plans to stop.
Reynolds mainly said this will not happen in the UK. “We have no plans to organize companies – beige or small – to force them to accept criticism,” she said.
Reynolds stressed that the UK “is not anywhere near” to become a non -critical society, as stores are expected to accept criticism for many years to come. However, she admitted that the treatment of digital exclusion is still necessary for those who may struggle to adapt to a less monetary adopting environment.
the BBC Reports that card payments have become a dominant payment model, and consumers are increasingly dependent on their smartphones for transactions.
Criticism remained an important factor in retail transactions last year despite the high cards payments, as a fifth of all purchases, according to the British Federation of Retail (BRC). This represents the second consecutive year of increasing cash use after a decade of decline, partially driven by consumers who find useful money for balance.
The survey reveals the challenges faced by critical users
However, a Conversation Through Link ATM, the ATM network found that half of the British had a problem with cash payment last year.
The data from the network of links from the ATMs reveals the worrying trend: an increase of 22 % in the locations of the parking lots that rejected cash payments or inhibit their use activity in 2024 compared to the previous year.
After the parking lots, cafes and restaurants witnessed a 20 % increase, while public transport and bars witnessed a 10 % increase in sites that did not accept or inhibit cash payments. The inconvenience caused by cash payment issues increased significantly, as 59 % of respondents witnessed this year compared to 48 % last year.
“The assignment of monetary acceptance in other countries has not always succeeded, and many companies have already moved away from cash with low demand,” says Graham Mout, Link’s strategy director.
However, there is still a great dependence on criticism along with the increasing risks of excluding people digitally. “It is important that there be a discussion on how to address this issue,” said death.