Importance of cash to retailers reinforced

London district president Nilesh Patel has reinforced the importance of cash to retailers. 

The news follows the Access to Cash review, chaired by Natalie Ceeney CBE, highlighted the overall decline in the use of cash in the UK. 

A fall in ATM use and increase in the number of cashless businesses were also reported. 

Patel told RN: “There is an even split between customers who use cash versus cards. If my business went cashless, I would lose a huge chunk of my customers.”

Ceeney said: “Closing bank branches and rising charges make it more expensive and riskier to handle cash.”