One in seven excessive avenue 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 that they had gone cashless over the earlier 12 months, in accordance 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 “holding alternative alive” report, printed by ATM and money entry community Hyperlink.
The survey indicated that 46% of in-person transactions had been nonetheless cash-based and in sectors equivalent to impartial 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 might worth higher entry to deposit amenities, equivalent to publish workplaces and banking hubs (the place a number of banks share a single house).
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 accordance 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 velocity of transactions.
Get a free fractional share price as much as £100.
Capital in danger.
Phrases and situations apply.
Go to web site
ADVERTISEMENT
Get a free fractional share price as much as £100.
Capital in danger.
Phrases and situations apply.
Go to web site
ADVERTISEMENT
A majority (53%) of companies surveyed would assist mandating money acceptance.
The report advocated a “joined up” method to tackling crime on the excessive avenue to assist companies forestall theft and fraud and assist workers really feel safer.
It additionally stated money acceptance needs to be frequently monitored to trace “the place money is really usable, not simply obtainable”.
The report was led by Hyperlink’s Client Council, and supported by the Federation of Small Companies (FSB), the Publish Workplace and PayPoint.
Joanna Wallace, chairwoman of Hyperlink’s Client Council, stated: “It’s changing into extra widespread to see an indication subsequent to the until in a store or cafe saying ‘card solely’ – 20 years in the past it could 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 sorts.
“However the continued significance of money on the excessive avenue rings true by means of 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 increasingly more folks select to pay with their contactless card.
“This analysis exhibits that we should proceed to provide companies the choice to financial institution their money regionally, and maintain a detailed eye on acceptance.
“However it additionally exhibits that companies are dedicated to permitting folks the selection of the right way to pay.”
Jenny Ross, editor of Which? Cash, stated: “Whereas some companies are selecting to go cashless, money stays vastly essential for a lot of customers, significantly these on decrease incomes who depend on it to finances and handle their spending.
“Companies mustn’t really feel pressured to drop money due to shrinking banking infrastructure or difficulties depositing earnings regionally.”
