We have to admit that the UK has become an increasingly cashless society however a cashless society simply isn’t going to work for everyone. As a digital and technology advocate I believe, there always has to be a blended approach in thinking about users and their needs and whilst a digital/virtual solution may be right for some audiences it won’t be for others. For example, Uber is massively successful in London and other UK cities but there is still a huge demand for traditional hail and ride cabs such as the black cabs in London who are now accepting both cash and card payments.
Looking specifically at older people who are typically more likely to rely on cash whether that’s paying for a carer or paying friends or family for shopping. For that demographic it’s a lifetime of how they have interacted with money. We have an ageing population with over 12 million people in the UK aged 65 or over. We can’t just switch cash off to them and tell them to get on an app to go about their business.
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Looking specifically at older people who are typically more likely to rely on cash whether that’s paying for a carer or paying friends or family for shopping. For that demographic it’s a lifetime of how they have interacted with money. We have an ageing population with over 12 million people in the UK aged 65 or over. We can’t just switch cash off to them and tell them to get on an app to go about their business.
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The Indian Digital Currency wants to put an end to Cash
