Retailers return to cash amid coronavirus outbreak

UK cash management specialist, Loomis, reports a significant increase in the number of retailers accepting cash again and a rise in the amount of notes and coins being used by consumers since the coronavirus lockdown eased, non-essential retailers re-opened and the Eat Out to Help Out scheme started.

At the start of lockdown, with many retailers closed the number of cash collections by Loomis fell to 30% of usual levels. Since measures eased in July and as the economy started to re-open, the number of cash collections across the UK have steadily risen to 64% of pre-lockdown levels.

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Since 1st August, the number of retailers accepting cash payments again has increased by 7%. This comes as restaurants and bars re-open their doors to consumers. Loomis has re-started a number of services that were previously suspended as retailers, including Pret and Hobbycraft, that had become card-only stores during lockdown, return to accepting physical money.

Ali Jafari, International Head of Profit Protection, Pret, says: “We are open to all, and we believe it’s only right to accept cash alongside other payment methods. Not everyone in society has access to contactless or smartphone technology, so we want to ensure anyone can come to our stores to enjoy our hot and cold food and drinks.”

“We continue to prioritise the safety of customers and colleagues with measures such as Perspex screens at our counters. As the World Health Organisation confirmed that there is no greater health risk from using cash over other payment methods we are pleased to be offering customers this choice again.”