Today Link, the operator of the UK’s largest ATM network, published the number and value of ATM transactions across their network over the last week.
Once again the figures continue to demonstrate that the UK is fast becoming a truly cashless society.
Link’s figures show that cash withdrawals for last week are down roughly 10 million on the equivalent week in 2019.
Link’s graph of weekly ATM transactions for 2017 to 2020 show that neither last week, last month or last year were a ‘blip’. The reduction in the reliance on cash by UK citizens is a more than a trend it is a reality.
Whilst it is important for the good of all in society that there continue to be a broad range of payment options I’d argue that preserving cash for cash sake is not the answer.
Preserving cash without a focus on ensuring that there are equitable, inclusive and accessible digital payment options will only serve to leave those who rely solely on cash behind.
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