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Will the UK Stores be soon Cashless?





Will the UK Stores be soon Cashless?
Just 7% of in-store purchases in the UK could be made in cash by 2024, a report has forecast, after the coronavirus pandemic fuelled the switch to cards and mobile payments.

While cash accounted for 27% of in-store transactions in 2019, the latest global payments report from processing company Worldpay found that had fallen to 13% last year. The report predicts usage will continue to drop over the next three years.

International figures showed that in several other countries, including Sweden, Canada and Australia, already less than one in 10 shop payments are made in cash.

It predicted Sweden would be “almost cashless” by 2024, with 0.4% of transactions paid for with money, down from 15.2% in 2019 and 8.8% last year.

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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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