Cashless in the UK? British will get hurt

Whilst recent changes brought about by the use of new technologies such as smart watches, tablets, phones and other savvy gadgets have meant certain change for the way we pay in shops in the UK, the recent pandemic has been a game changer.

As stores begin to open for business again across the nation after the recent lockdown, many shops and service providers are now only accepting card and contactless payments in a bid to keep people safe. Whilst 59% of the UK population claim that they prefer to pay via card or contactless, 41% of people still prefer to pay with cash. So, what does this mean for the future of payments in the UK, and how will it affect society as we know it? Below we’ll take a closer look at the future of UK investing.

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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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