Brits overwhelming want to use cash

Even though less Britons are using cash as a method of payment due to the risks it poses amid the pandemic, only 26% of them actually want a cashless society, new data revealed.

A report by Money Transfers found that the UK came in 14th place in ranking of countries in favour of a cashless society.

This is even as 50% said they paid in cash less often since the COVID-19 pandemic.

“The argument for a cashless society has been around for a while, but the rapid rise of the coronavirus crisis has intensified the debate again amid concerns about banknotes and coins transmitting the virus,” the report noted.

It added that the increasing decline of high street bank branches and ATMs has made the possibility of a cashless society in the next few years "more likely than ever before."

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The cashless society from an ethical point of view

The debate about the move towards a cashless society has been at the center of the scene for several years, now. Various angles have been taken by economists, politicians, banking institutions and sociologists. Beyond the technicalities of the debate, lies the question of freedom, of inter-citizen solidarity and of governmental responsibility. The debate cannot remain in the hands of financial specialists, it is first and foremost an ethical, political and societal issue.

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