Community
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.
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
Ruchi Rathor Founder at Payomatix Technologies
06 September
Alexander Boehm Chief Executive Officer at PayRate42
05 September
Erica Andersen Marketing at smartR AI
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