An article relating to this blog post on Finextra:
Cash still king for customers
The British Retail Consortium (BRC) says customers still prefer to use cash when paying for purchases in stores despite moves by banks to boost revenues from fees through increased card spending.
The "cash still king" story on Finextra caught my eye.
Something about all this talk of replacing cash has been bothering me. It's all very well the banks trumpeting that you can use various contactless payment cards in the Starbucks of the world. I don't like the coffee in Starbucks. And I don't want to buy
something in WH Smiths on the station. I want to buy a paper from the guy with a trestle table eaking out a living to passing commuters or the bloke selling roast chestnuts outside the station. Neither of these are likely to offer cashless payments in the
near future unless the kit is free and any charges levied are affordable. Come to think of it I know at least two small and splendid yet clearly struggling restaurants that only take cash. Similar reasons.
If banks are serious about contactless payment cards and the like, I hope they make sure the small retailers can get on board. Otherwise as cash carrying punters decrease, so the smaller, more interesting retailers will disappear and the high street will
become even blander. If that's possible.