One in seven excessive road companies ‘have gone cashless prior to now 12 months’

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Your help makes all of the distinction. Learn extra One in seven excessive road companies in a survey stated they've gone cashless prior to now 12 months.

Whereas 77% of small and medium-sized retailers stated they settle for money, 14% stated they'd gone cashless over the earlier 12 months, in line with the analysis, carried out in September 2025.

The survey of greater than 1,100 SMEs (small and medium-sized enterprises) throughout the UK was carried out for a “conserving alternative alive” report, revealed by ATM and money entry community Hyperlink.

The survey indicated that 46% of in-person transactions had been nonetheless cash-based and in sectors comparable to unbiased retail, cafes and pubs, comfort shops, and launderettes, money utilization was constantly above this common.

The most important driver to changing into a “cashless” enterprise within the survey was fraud prevention, adopted by safety issues and a scarcity of buyer demand.

Round a fifth (19%) of companies additionally felt digital funds made bookkeeping and accounting simpler to handle.

A scarcity of deposit amenities and the closure of the native financial institution department had been additionally highlighted amongst companies’ issues.

4 fifths (82%) say they'd worth higher entry to deposit amenities, comparable to publish workplaces and banking hubs (the place a number of banks share a single area).

Some companies additionally highlighted the price of dealing with money as a priority.

However amongst companies that settle for money, almost half (46%) stated they actively encourage its use, in line with the survey, carried out by Focaldata.

Avoiding card charges was seen as one of many advantages of accepting money, together with liquidity and the pace of transactions.

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A majority (53%) of companies surveyed would help mandating money acceptance.

The report advocated a “joined up” strategy to tackling crime on the excessive road to assist companies stop theft and fraud and assist workers really feel safer.

It additionally stated money acceptance ought to be often monitored to trace “the place money is actually usable, not simply obtainable”.

The report was led by Hyperlink’s Shopper Council, and supported by the Federation of Small Companies (FSB), the Put up Workplace and PayPoint.

Joanna Wallace, chairwoman of Hyperlink’s Shopper Council, stated: “It’s changing into extra frequent to see an indication subsequent to the until in a store or cafe saying ‘card solely’ – 20 years in the past it might have been ‘money solely’.

“The methods we wish to pay are altering and so are the methods we're in a position to pay – this analysis exhibits the advanced vary of things that have an effect on any enterprise proprietor’s alternative of cost varieties.

“However the continued significance of money on the excessive road rings true via all of it.”

Nick Quin, chief company affairs officer at Hyperlink, stated: “We're ensuring that individuals can entry their money, and companies can deposit their money, in each nook of the UK.

“That's important as an increasing number of individuals select to pay with their contactless card.

“This analysis exhibits that we should proceed to offer companies the choice to financial institution their money domestically, and hold a detailed eye on acceptance.

“But it surely additionally exhibits that companies are dedicated to permitting individuals the selection of easy methods to pay.”

Jenny Ross, editor of Which? Cash, stated: “Whereas some companies are selecting to go cashless, money stays vastly necessary for a lot of customers, significantly these on decrease incomes who depend on it to price range and handle their spending.

“Companies shouldn't really feel pressured to drop money due to shrinking banking infrastructure or difficulties depositing earnings domestically.”

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One in seven excessive road companies ‘have gone cashless prior to now 12 months’

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