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Small Businesses Need Not Worry About Loss Of Cashpoints

Thursday 1st March 2018

Naturally the Federation of Small Business Chairman, Mike Cherry, is right to be concerned about any changes affecting small firms ( Daily Telegraph today) . Yet the loss of free cashpoints and all cashpoints is an opportunity for growth rather than an obstacle as the proliferation of new payment systems means people can shop more easily and more frequently if retailers and restaurateurs embrace new technology.
Now, with the poorly promoted dramatic reduction of interchange fees charged by banks to stores, means retailers should more readily accept debit cards, credit cards and contactless cards especially for small purchases.
Many businesses of all sizes have become more profitable by becoming cashless. The management of cash is a cost burden for retailers and the UK economy as a whole.
The Go Cashless campaign reaches out to everyone to promote the huge economical and social benefits for everyone and every business.
The plain truth is cash is the currency of tax cheats and all criminals making cash no longer sustainable more especially as new payment methods are being adopted widely.