- MPs warn that businesses like shops and restaurants may be required to accept cash payments due to the declining use of cash and the risk of excluding vulnerable groups.
- The Treasury Committee highlighted concerns about a potential "two-tier society" where those reliant on cash are disadvantaged.
- Cash usage has significantly decreased in the UK, impacting vulnerable groups who may face higher costs for goods and services as cash acceptance dwindles.
- MPs are urging the government to monitor cash acceptance levels and consider mandating it if safeguards for cash users aren't implemented.
- The report also noted the resilience benefits of cash, especially during bank outages, and the difficulty in accurately assessing cash acceptance levels due to inconsistent data.
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