LINK’s latest poll of cash users who have recently been somewhere that did not accept or discouraged the use of notes or coins, showed a 22% increase from last year.
The new data forms part of the ATM network’s regular research to understand how and where people are using cash and other payment types.
When asked which locations had not accepted or discouraged cash, parking was the most common. More than a fifth (21%) of those questioned highlighted parking as an issue, up from 11% last year. This was followed by cafes and restaurants (20%) with public transport and pubs in joint third at 10%.
Of those surveyed, 59% say issues with cash payments caused inconvenience, an increase from 48% last year. Interestingly, while digital and card payments continue to become popular, especially across more affluent groups in society, the data is consistent across demographic groups with 54% of ABC1 and 56% of C2DE groups highlighting frustrations.
How are people paying?
The most popular payment methods are using contactless (43%), mobile phone (22%) and cash (19%), according to the survey.
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The most popular location to use cash is in convenience stores, followed by supermarkets and giving cash to friends and family.
Of those polled 73% said they have used cash in the past two weeks, a number which has remained consistent over the past few years.
Four-fifths (80%) of respondents said it’s important to have the choice to pay with cash. The most popular reasons are payment choice (66%), the preference of the person being paid (54%), and cash being easier to pay friends and family (42%).
Respondents also highlighted the benefits of cash for managing budgets, being more secure and feeling more tangible than using a card or phone.
Graham Mott, LINK director of strategy, said: “Throughout the pandemic and the cost-of-living challenges, while more people are choosing to use digital payments, cash remains resilient and people like using cash and certainly like having the choice to use it if they want.
“Mandating cash acceptance in other countries has not always been successful and many businesses have already transitioned away from cash as demand has fallen. However, there is still a huge reliance on cash alongside the growing risk of digital exclusion. It is important that there is debate about how this issue is addressed.”