The Guardian Reports People No Longer Carry Cash
Thursday 22nd February 2018
In a recent Guardian Newspaper article it says people are no longer carrying cash and are already adapting to a cashless society in the UK. The article gives many examples of businesses and organisations who are seeing less cash transactions and have increased turnover when cash is not used.
Deborah Myers, head of development of The National Gallery has seen increases in donations by cards as opposed to those of cash.
Margaret Cave, vicar of Christ Church in Dulwich would like to become a cash-free church,
John Montague, Managing Director of The Big Issue is reported in The Guardian as saying that many of his sellers would prefer a digital payment solution as many more people are not carrying cash to buy the paper. They are in discussion with both MasterCard and Visa to provide a solution.
A stall holder in Bloomsbury Market selling Indian Food said that since accepting non-cash payments he has seen his turnover grow by one sixth.
Everyday more and more people, businesses, charities, museums and other organisations are reaping benefits of going cashless. Previous cash-only businesses who now accept contactless payments, card and mobile phone payments are becoming more profitable.
Fortunately for every business card transaction fees have been dramatically reduced by MasterCard and Visa while the cost of cash management continues to rise.
Cash is no longer sustainable and remains as the currency of choice for tax cheats and criminals.
We now have so many new, secure payment systems to suit everyone, every business, charities, children, elderly and disadvantaged people we simply no longer need cash.
Such is the sheer scale of unpaid taxes due to the illegal use of cash that in a cashless society with everyone paying their fair share of tax, the UK economy would see an annual boost of at least £20 billion. This could provide much needed additional funding for our essential public services. Why should only honest, hard-working people pay tax? A cashless UK would be a better, fairer society with far less crime.