Manchester street goes cashless
20 June 2014 | 10931 views | 6
A Manchester street will provide a glimpse into a cashless future tomorrow when its merchants ban notes and coins for one day.
Grocers, bakers, pubs and restaurants on Beech Road have agreed to ditch cash for 24 hours in an experiment dreamed up by local card payment terminal firm Handepay.
Handepay says that the experiment will test consumer and business reaction to the inevitable future, when paper money becomes redundant.
Earlier this month the British Retail Consortium claimed that there has been a 14% decline in the use of notes and coins in the last five years as customers switch to cards.
However, despite the predictions of its demise, Payments Council figures show that cash was still used for 19.9 billion payments, worth £260 billion, last year - 52% of all payments.