Was walking through the high street today and saw this on the front of the Vodafone store! Do you think it be long before we see more cashless shops?
Vodafone shops have been cashless for a long time. Maybe even before Monzo current accounts were a thing.
Yes, I think more and more shops will go cashless in the years to come.
I mean… how many people were really using cash in a Vodafone shop?! Accessories maybe, but handsets?!
Cashless places are starting to take off now. Finally…
I’ve seen quite a few ‘Card payments preferred’ signs, too. Handling cash is expensive
I suspect we will, yes. The cost of handling cash is higher than people think. More expensive than card transactions in a lot of cases. Factor in:
- Staff time to count a float, cash up, and prepare money for banking
- Insurance for storing large amounts of cash
- Secure cash collection costs
If I ran a store I’d seriously consider going cashless for my own convenience, regardless of savings.
I have heard about some pubs in London that have gone card only.
I personally hate carrying around any cash.
O2 Academy Brixton posted this up yesterday and the comments are erm… interesting. My views are in the comments but in summary I think they’re doing it wrong. Reduce cash payments to one bar only for now and change behaviour slowly but still allow those who want to use cash the opportunity to do so.
Cashless would be great, but the only thing is how a transaction would be handled in the event of a connection error?
I always remember about 10 years ago I tried to pay for petrol and the card machines were down so out came the old card imprinter…
Im just wondering what the modern equivalent would be in the event of a major outage?
Interesting read. The new Tottenham football stadium is completely cashless now too
Not just London, there’s a village somewhere whose last free ATM was removed, and a few businesses (including a pub) went cashless.
There’s some weird stuff in that thread. Some mad comments.