Cashless society: Emergencies could be the glimmer of hope in keeping cash around
Cash may no longer be king – but it’s still our go-to in an emergency.
Though we live in an increasingly cashless society, a survey found three-quarters of those who said they prefer digital payments still carry change just in case. And one in 12 – or 8 per cent – still use physical cash “all of the time”.
The survey of more than 2,000 people commissioned by bank UK bank NatWest, found that about a third – 36 per cent – of cash users on low incomes said that better protection against fraud would make them more likely to switch to other payment methods.
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By continuing you agree to our Terms and Privacy Policy.Nearly two-fifths – 38 per cent – of those polled said they would be likely to use a product that gave them change from cash transactions on a mobile app or card, rather than in coins, for easier spending and saving.
Mark Brant, chief payments officer at NatWest, said: “Cash remains important for many of our customers, and there’s an important job for us to support those who continue to use cash, as payments and services become increasingly digital.”
The trend towards digital payments means many shops and businesses no longer accept cash at all.
