Covid-19 has changed the way we pay.
Developments in online banking, contactless payments and online shopping along with the COVID-19 pandemic have changed the way people shop and pay for goods. While this rapid development in electronic payments has seen many people embrace these methods, it risks leaving millions behind who still rely on cash.
Research from Which? shows that despite 10 million consumers being unready or unwilling to give up cash, and 2.5 million consumers reliant on it for every transaction, one in three people report difficulties in being able to pay for goods or services with cash during the pandemic. In turn, FSB knows the importance that small businesses place on maintaining their revenues that come in, in cash.
