Shops and firms will not be forced to accept cash

Published On Jan 28, 2025, 8:55 AM

A UK government minister has stated that shops and service providers will not be required to accept cash, even as many vulnerable individuals rely on it for transactions. The UK's economic secretary to the Treasury emphasized the government's focus on ensuring access to cash rather than mandating its acceptance. Despite a general trend towards digital payments, a significant portion of transactions still involve cash, and cash usage in shops has increased in recent years. Discussions are ongoing regarding the challenges faced by those dependent on cash, particularly in the context of digital exclusion and the risk of creating a two-tier society among consumers.