Share of people who would struggle in a cashless society in the UK 2018, by reason
The concept of cashless society refers to an economic state in which financial transactions are executed in an electronic format and without banknotes. According to a nationally representative survey among consumers in the United Kingdom conducted in November 2018, approximately 23 percent of respondents needed cash because a lot of local businesses still only accept cash. Further reasons why people need to carry and pay in cash are the fear of overspending, lack of access to a debit or credit card, and being paid in cash.