Cashless gains momentum – even among rural and elderly communities

14 Jul 2020

Cashless paymentRural and elderly communities are welcoming the move towards cashless payments together with the younger generation and their city-dwelling counterparts, according to the latest research from Talking Retail and Retail Times. 

55% of those living in rural areas participated in a survey stating that they feel ready to shift towards a completely cashless society. 

Furthermore, 70% of those living rurally also said that they have adapted more to the cashless trend ever since lockdown restrictions were implemented. This was well above the 66% of those living in urbanized zones. 

The Covid-19 pandemic has accelerated the move towards a cashless society, as more people grew reluctant to use banknotes and coins in order to curb the spread of the virus. 

According to the research, there is an ballooning interest in cashless payments across various areas of the UK, even in rural zones, where cashless was previously a concern. 

Lockdown measures have invited a predominantly cashless way of living, which consumers have welcomed with open arms. From purchasing daily needs digitally and online, to avoiding the physical contact which comes along with banknotes and coins, the cashless trend has become widespread among all communities. 

As shops, restaurants, bars and cafes slowly begin to reopen, business could be given a boost to launch or broaden their online services, and opt to invest in alternative delivery methods in order to fit in to the changes in consumer behaviour.