Usdaw calls for a legal requirement for cash acceptance to help with budgeting

As part of her evidence to the select committee, Carrie Aspin – Usdaw senior researcher said: “Our members tell us that access to cash is really important in terms of budgeting and managing finances. We do see a future for cash; we think it’s not just a choice that consumers are making. We think it’s absolutely necessary for low-paid workers and vulnerable groups across society. We are seriously concerned that the decline in cash acceptance is going to lead to people being left behind.”

Paddy Lillis – Usdaw general secretary says: “Usdaw is deeply concerned that millions of people could potentially be left out of the economy and face increased risk of isolation and debt through the decline in the acceptance of cash. Many people, including the elderly, low-paid workers and other vulnerable groups, rely on cash to manage their finances and spending habits. While for some individuals this is a preference, many people rely on cash out of necessity.

“Usdaw therefore supports a legal requirement for cash acceptance in essential retail, to ensure that no one is left behind due to the evolution in technology and payment methods. Up until now, this has largely been left to market forces and there is no legal obligation or right to use a particular payment method, including cash. Yet the increase of cash usage during the recent challenging economic conditions demonstrates that there are still consumers for whom cash is vital, especially those in the most vulnerable situations.”