Why Cash is Here to Stay in 2025

By Simon James, CEO, PayComplete

If you’ve been following the march of technological progress in payments, you might think the death knell for cash has already sounded; and that sound is like a double beep as another item is paid via your mobile phone. From the rise of digital wallets to contactless payments, cash has long been predicted to fade into obsolescence. Surely, it’s 2025, cash is no more? Think again. In fact, cash is thriving.

PayComplete’s recent ‘Why won’t cash just die?!’ report found that a massive 89% of consumers view the ability to pay in cash as important to customer satisfaction. When cash is removed as a payment option, only 26% of consumers comply, while an even larger group (36%) walk away without making a purchase.

This is also not just our data, recent figures from the British Retail Consortium (BRC) paints the story of 2024 – showing that cash will remain a central part of the payment ecosystem and economy for the foreseeable future.

These are also not just consumer sentiments, they are being matched with legislation. In 2024, the UK’s Financial Conduct Authority (FCA) introduced the Access to Cash regulations, ensuring that businesses retain access to cash. Similarly, the US states of Connecticut, Massachusetts, and others have enacted similar laws. For me, these regulations not only highlight the power and continued influence of cash in our society but also reflect consumers’ deep attachment to it.

The Consumer Perspective on Cash

As highlighted above, it’s not just customer experience that’s impacted by the absence of cash as a payment option. How people view your brand is also affected. Our research findings discovered that nearly half (47%) of consumers believe organisations that don’t accept cash as a payment option are putting profits ahead of customer satisfaction – which, let’s be honest, isn’t a good look for anyone.

It’s seen as a failure to not offer cash as a payment choice and remains a big risk for businesses, negatively impacting customer satisfaction, brand reputation, and leading to outright anger from customers.

More Than Just Sentiment or Convenience

From our research, it turns out that 59% of consumers feel that paying with cash is a great way to support local communities. When people pay in cash, it’s more than just a transaction. It actually feels like a way of contributing to the local economy. It helps small businesses thrive and keeps card payment fees lower, which can make a big difference for smaller operations. They also feel better able to donate to charitable causes.

Moreover, 62% of consumers agree that using cash is a great way to teach children financial skills. Digital payment methods – for all their advantages – are primarily abstract, while cash – when you have it in front of you – remains a tangible method for learning about money management, spending limits, and budgeting.

Another interesting – and perhaps unexpected finding – was around Gen Z, who showed a preference for cash. Gen Zers (29%) said that cash was their preferred payment method, pushing debit cards into second place. This statistic is a wakeup call to the idea that only older generations rely on cash.

How CashTech is Changing the Way We Handle Cash

Cash isn’t going anywhere – but it doesn’t have to be a hassle to manage. If you’re a business looking to make cash handling smoother, there are viable options on the table. CashTech is a bridge between old school traditional cash handling and the digital age, combining smart technology to make managing cash simpler, safer, and far more efficient.

By integrating cash management with existing digital systems like payment processors and accounting software, businesses can get a clearer picture of their financial flow. CashTech lets them track cash transactions in real time, quickly spotting any discrepancies and making it easier to manage cash flow. On top of that, smart safes and authentication technology bring an extra layer of security, significantly reducing the risk of cash leakage and fraud.

The Bottom Line is Cash Matters

Cash is far from being obsolete, its obituary written far too early; in fact, cash remains an essential part of the consumer experience and business operations.

The ongoing preference for cash, coupled with regulatory changes, shows that businesses that overlook this payment method risk alienating a swathe of their customer base.

For businesses, embracing cash – alongside digital payments – offers a competitive edge.

By integrating CashTech into operations, businesses can reduce the inefficiencies that once might have classed it as a cumbersome option and while doing so improve security and enhance customer loyalty.

Cash will always be a part of the payment landscape, and those who embrace it will be better positioned for long-term success in a diverse and ever-changing market.

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