Government urged to protect consumers who prefer using cash

Retailers have joined forces with consumer group Which? to ask the government to safeguard consumers and businesses who rely on cash.

Although cash use has been falling in recent years, according to the British Retail Consortium, cash purchases totalled £78 billion in retail sales last year.

The campaigners say it remains an important method of payment, with 2.2 million people entirely dependent on cash in the UK, with two-thirds of consumers using cash more than once a week and one-in-four people retaining a preference to pay with cash.

The pandemic has led to a further drop in cash purchases as customers choose alternative payment methods.

Now, retailers are finding it increasingly difficult to secure basic cash services – such as store collections, while the cost of these services levied by banks and other providers has risen.

Businesses are calling on the government to step in to maintain competitive commercial cash supply services across the UK and protect cash-dependent consumers.

David L ons dale, director of the Scottish Retail Consortium, said: “Retailers have invested significantly to make shopping easier and more convenient for Scots using card payments.

“Cash remains an important part of the payment mix.

“According to our most recent payments survey, cash accounts for two out of every five retail transactions, with the average transaction value £10.21.”

Retailers want to protect cash transactions.