Major retailers across the UK have signed a pledge to accept cash. The campaign—launched by consumer rights group Which?—is backed by the Bank of England and retail associations urging their members to commit.
Pushing back against the pandemic-driven trend of businesses refusing cash, Aldi, Asda, Co-op and Waitrose are the headline supermarkets promising customers the freedom to choose payment by banknotes and coins. Department store John Lewis has also signed up, alongside Lloyds Pharmacy, which has 1,400 branches nationwide.
The Association of Convenience Stores, the British Independent Retailers Association, the British Retail Consortium and the Federation of Small Businesses are all promoting the scheme as a positive move for their members, and the Bank of England has also lent its support.
Addressing the Which? Cash Summit in May, John Glen, Economic Secretary to the Treasury, referred to commentators who compare cash and digital payments with previous technological innovations to demonstrate new developments do not require previous systems to make way. He drew a parallel with virtual meetings, which have been particularly valuable during the pandemic, and will work alongside in-person interactions going forward, rather than replacing them.
