Warning shops could be forced to accept cash in future
Summary
MPs say stores and services may have to accept cash at some point because some people need to use it. The government is not planning to make this a law yet, but is being asked to keep a closer eye on how often cash is used.Key Facts
- In the future, stores and services may need to accept cash to help people who rely on it, according to MPs.
- A report by the Treasury Committee did not suggest a new law to make cash acceptance mandatory.
- Some places, like Australia and parts of the EU, are planning rules to make essential services accept cash in some situations.
- Currently, stores and services can choose which form of payment they accept.
- If fewer stores accept cash, the prices in the remaining stores that do could go up.
- This could make things harder for people who only have cash or prefer to use it to manage their budget.
- The report also warns about people being left out if they can't use cash at places like leisure centers, theaters, and public transport.
- The Committee's report suggests that for some businesses, like market stalls, cash is still very important.
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