Consumer group Which? To gauge the experience with payments, Consumer group Which? conducted two surveys.
Jenny Ross (Who? ), was inspired by the findings to call on companies and organizations to ensure that people are not hindered by digital payments. Jenny Ross, Which?money editor, was inspired by these findings to ask firms for help in ensuring that people don’t feel hampered by digital payments.
She stated that cash is still an important way for consumers to pay millions.
It is concerning that many people still have difficulty spending their coins and notes, even though the country has lifted its lockdown restrictions.
The phone survey included those consumers that were less technologically proficient and more dependent upon cash. This second poll was conducted online.
A quarter of respondents to the telephone survey said that they were unable pay money with cash at least once in April or July since Covid restrictions had been lifted.
One in six (16%) of those with cash refusal were unable to purchase an item.
The online survey revealed that 35 percent of respondents were unable to use coins and notes to purchase groceries. The next step was to make small purchases at shops or buy refreshments when you’re out.
84% of consumers (84%) believe that shops and businesses should accept cash. Which? This was found.
This is after a Bank of England study found that people with banknotes are unlikely to contract coronavirus.
Which? To ensure that people who regularly use cash aren’t excluded, the cash friendly pledge encourages businesses to sign up.
Jonathan Jaffa is the owner of York Supplies, Birmingham. He recently joined Which? ‘s scheme.
He stated, “Those who can’t pay cash have the feeling that they are being supported as part of the community and not dismissed as an insignificant fringe.” “
According to the Government, it is planning legislation that will protect cash’s future.
What? But Which?
The Financial Crimes Authority (FCA), should be charged with monitoring cash refusal levels.
Natalie Ceeney is chairperson of Access to Cash Review. She also leads industry Access to Cash Action Group. Some people are not able to make contactless and digital payments.
What happens to people who can’t afford food and medicine? While we’re all familiar with the problems of getting money, the real issues are those that can be paid for using cash.
Small businesses are vital to many communities. However, they must be able deposit cash easily to continue accepting money. This is becoming increasingly difficult as more banks close.
We are currently piloting innovative solutions, such as shared banking hubs and ATMs that deposit money to help small and medium-sized businesses and consumers. We must act immediately to prevent real harm to vulnerable consumers.”
Publited Sat, 11 Sep 2021 at 10:39:00 +0000