Asked by: Mohammad Yasin (Labour - Bedford)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment he has made of the size of the increase in the level of card only transactions during the covid-19 outbreak; and what assessment he has made of the impact of that increase on vulnerable groups of people.
Answered by John Glen
All businesses and individuals are encouraged to follow the latest Government advice to help control the virus. In order to work safely, retailers have been recommended to minimise contact around transactions, for example, by considering offering contactless payments where possible. Ultimately, it remains the individual retailer’s choice whether to accept or decline any form of payment, including cash or card.
In recent years, the ongoing trend in UK payments has been away from cash and towards card payments and other digital payment methods. This transition brings opportunities, including the potential for faster and safer payments. Nonetheless, the Government recognises that access to cash remains important to millions of people across the UK, particularly some vulnerable groups. As such, the Government has committed to legislating to protect access to cash, and to ensure that the UK’s cash infrastructure is sustainable in the longer term.