Mar 27, 2020 20:00:00

People who use cash have halved in just a few days due to the influence of the new coronavirus

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curfew has been banned in the UK for measures against the new coronavirus, and the public is required to refrain from going out of the city unnecessarily. Similarly, many stores have been closed in the UK to stop the spread of infectious diseases, and in just a few days cash use across the UK has been cut in half, according to a leading newspaper, Guardian.

UK cash usage halves within days as shops close due to coronavirus | Money | The Guardian
https://www.theguardian.com/money/2020/mar/24/uk-cash-usage-halves-in-few-days

According to LINK , which operates the UK's largest ATM network, cash use in the UK has been halved in just a few days. This is thought to have been caused by the ban on curfew issued in the UK, `` transition to contactless payment '' and `` concern that viruses are lurking in banknotes ''

According to LINK, the company's ATM system is operating normally and working with banks and regulators to enable ATMs to withdraw cash. However, LINK states, 'Consumer ATM and cash use has fallen significantly by about 50% in the past few days, as many continue to wait at home according to national instructions. This trend is likely to continue, 'he says. ATMs and cash use are expected to continue.

Also, in the UK, some retailers have refused to pay in cash and are asking for credit card payment.

Who is a British consumer organization ? 'We are concerned that many stores will not be able to pay for utilities, because some stores have refused to pay in cash,' said Gareth Shaw, head of the financial sector.

'Government and retailers both rely on cash, and hundreds of people without bank cards have a new way to make cash payments so that they can buy essentials during these difficult times. We need to find a way, 'says Shaw.

On March 23, 2020, the UK Retail Association and the Bank agreed to increase the payment limit for contactless payments from £ 30 to £ 45. `` Given the pace at which this change is taking place, we have identified retailers facing the impact of the new coronavirus, '' said UK Finance , a major UK bank. And it will take some time for all retailers to see the limit increase reflected. '

If you use Apple Pay, one of the contactless payments, there is no official credit limit, but some retailers in the UK have their own limits. However, as cash use declines, retailers 'are facing pressure to lift restrictions on contactless payments,' the Guardian points out. In addition, retailers must pay a fee of £ 5 or more to implement contactless payment.

LINK notes that when using an ATM, 'LINK recommends the same general hygiene measures when using an ATM: wash your hands as soon as possible and touch your eyes, nose and mouth. Please don't do that. '