👀 United Kingdom 🇬🇧: Treasury Committee may mandate shops to accept cash in the future

👀 United Kingdom 🇬🇧: Treasury Committee may mandate shops to accept cash in the future

The aim is to protect vulnerable groups for whom cash remains the only viable payment method.

▶️ Context: Vulnerable groups include people with learning disabilities, victims of domestic abuse, and the elderly. But even beyond these segments, cash is still widely used in the UK. A OnePoll survey for NerdWallet UK found that only 4% of Britons plan to stop using cash in 2025, while 79% will continue to use it for certain purchases and savings.

▶️ Currently, UK law does not explicitly require shops to accept cash — it’s assumed to be a common practice.

▶️ Meanwhile, the debate is gaining traction across Europe. In November 2024, the Norwegian Parliament 🇳🇴 passed a law mandating that retailers accept cash, and Sweden’s 🇸🇪 central bank is currently reviewing a similar proposal.

#news #Europe

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