By Dr Wolfram Seidemann

More UK high street shops are turning cashless.

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One in seven respondents to a recent LINK (the UK’s cash access and ATM network) survey stated that they only accept card or phone payments, even though the same findings showed that half of in-store purchases are still being made in cash.

With no legal requirement for shops to accept banknotes, Britain could appear to be drifting toward a cashless society that consumers never explicitly chose.

For businesses, the move away from cash is understandable. Private digital payment systems represent an attractive and scalable business model, supported by strong commercial incentives and well-organised lobbying.

Digital payments align with broader trends toward speed, convenience and operational efficiency, reducing some of the costs and complexities associated with handling physical cash. As consumer habits evolve, many retailers see digital-only acceptance as a rational decision.

Yet consumer behaviour tells a more nuanced story. Average........

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