The Changing Role of Cash in the Economy
The British public is using cash less, preferring to take advantage of new digital payment methods. In this video, Sir Mark Boleat explains trends in the use of cash and analyses issues arising from the move towards a cashless society.
Overview
The market is changing rapidly. Within a few years many people will carry no cash and many more retailers will not accept cash. The appropriate policy response is to seek to ensure access to cash for those who need it and to help remove the barriers to using electronic means of payment for those reluctant to use them.
Key learning objectives:
How has the way people pay for goods and services evolved?
What has driven the dramatic change in the way people pay for goods and services?
What are the advantages of digital payments to consumers?
How has LINK addressed the issue of wholesale cash distribution?
Summary
Expert
Sir Mark Boleat
Sir Mark Boleat has held a wide range of board level appointments in the UK and Jersey. He is currently the Chairman of LINK, Eldon Insurance Services and the Governors of the City of London Academy Highbury Grove. Sir Mark is also Vice Chairman of the Advisory Board of the International Business and Diplomatic Exchange.
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