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Post Office Urges Retailers to Keep Crucial Option Open to Customers
The survey found 29% of shoppers were turned away at checkout, while 90% of retailers lacked cash in their backup plans.
- The Post Office is urging retailers to include cash in contingency plans, warning that digital outages can "disrupt trading in seconds, resulting in customers being turned away and sales lost."
- While 83% of businesses surveyed had a written contingency plan, 90% failed to include accepting cash as a backup despite retailers reporting an average of three payment disruptions in the last year.
- Nearly 29% of people faced payment issues at checkouts in the past year, with 21% of those affected unable to pay because the retailer did not accept cash.
- Ben Hunter Woollard, head of banking at the Post Office, stated that cash serves as a "crucial safety net" allowing businesses to continue trading when digital payment networks fail.
- Households are withdrawing more cash following the Government's 'Ready' campaign, with average ATM withdrawals approaching £110, as Link reported the first annual increase in withdrawal value this year.
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11 Articles
11 Articles
Coverage Details
Total News Sources11
Leaning Left2Leaning Right0Center8Last UpdatedBias Distribution80% Center
Bias Distribution
- 80% of the sources are Center
80% Center
L 20%
C 80%
Factuality
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