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One in seven excessive road companies in a survey mentioned they’ve gone cashless previously 12 months.
Whereas 77% of small and medium-sized retailers mentioned they settle for money, 14% mentioned they’d gone cashless over the earlier 12 months, in keeping with the analysis, carried out in September 2025.
The survey of greater than 1,100 SMEs (small and medium-sized enterprises) throughout the UK was carried out for a “protecting selection alive” report, revealed by ATM and money entry community Hyperlink.
The survey indicated that 46% of in-person transactions had been nonetheless cash-based and in sectors equivalent to unbiased retail, cafes and pubs, comfort shops, and launderettes, money utilization was constantly above this common.
The largest driver to changing into a “cashless” enterprise within the survey was fraud prevention, adopted by safety considerations and an absence of buyer demand.
Round a fifth (19%) of companies additionally felt digital funds made bookkeeping and accounting simpler to handle.
A scarcity of deposit services and the closure of the native financial institution department had been additionally highlighted amongst companies’ issues.
4 fifths (82%) say they might worth higher entry to deposit services, equivalent to put up places of work and banking hubs (the place a number of banks share a single area).
Some companies additionally highlighted the price of dealing with money as a priority.
However amongst companies that settle for money, practically half (46%) mentioned they actively encourage its use, in keeping with the survey, carried out by Focaldata.
Avoiding card charges was seen as one of many advantages of accepting money, together with liquidity and the pace of transactions.
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A majority (53%) of companies surveyed would help mandating money acceptance.
The report advocated a “joined up” strategy to tackling crime on the excessive road to assist companies stop theft and fraud and assist employees really feel safer.
It additionally mentioned money acceptance needs to be repeatedly monitored to trace “the place money is actually usable, not simply obtainable”.
The report was led by Hyperlink’s Shopper Council, and supported by the Federation of Small Companies (FSB), the Put up Workplace and PayPoint.
Joanna Wallace, chairwoman of Hyperlink’s Shopper Council, mentioned: “It’s changing into extra widespread to see an indication subsequent to the until in a store or cafe saying ‘card solely’ – 20 years in the past it might have been ‘money solely’.
“The methods we wish to pay are altering and so are the methods we’re in a position to pay – this analysis exhibits the advanced vary of things that have an effect on any enterprise proprietor’s selection of cost sorts.
“However the continued significance of money on the excessive road rings true via all of it.”
Nick Quin, chief company affairs officer at Hyperlink, mentioned: “We’re ensuring that individuals can entry their money, and companies can deposit their money, in each nook of the UK.
“That’s vital as an increasing number of individuals select to pay with their contactless card.
“This analysis exhibits that we should proceed to present companies the choice to financial institution their money regionally, and preserve an in depth eye on acceptance.
“Nevertheless it additionally exhibits that companies are dedicated to permitting individuals the selection of how you can pay.”
Jenny Ross, editor of Which? Cash, mentioned: “Whereas some companies are selecting to go cashless, money stays massively necessary for a lot of customers, notably these on decrease incomes who depend on it to finances and handle their spending.
“Companies shouldn’t really feel compelled to drop money due to shrinking banking infrastructure or difficulties depositing earnings regionally.”
