The detrimental effects of cashless society

According to local and national homeless charities an increasingly cashless society can have detrimental effects on anyone at risk of poverty, from the homeless to those with disabilities and the elderly.

Cambridge is set to become one of the first cashless UK cities, with one of the highest increases in contactless transactions each year. In 2020 69 per cent of Cambridge's transactions from April were by card or contactless payment, compared to 2008 when 60 per cent of UK transactions were in cash.

9000 cash machines disappeared across the UK in the last two years and many shops now only accept card. But aside from stopping the spread of Covid-19, is ditching coins a good thing?

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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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