In a response to the Bank of England releasing their quarterly report regarding the usage of cash, London’s Share Radio turned to long time industry leader and CEO of YourCash, Jenny Campbell. Anxious to gain perspective for consumers and businesses alike, the interview focused on Jenny’s insights into the growing belief that cash as we know it, is somehow on the decline. She argues that nothing could be farther from the truth.
According to Jenny, technology is advancing at incredible rates and will most certainly continue to drive changes throughout society. As part of these changes, alternative ways to pay for goods and services will continue to emerge. Some will pass the test and add lasting value, while others will come to market, only to be quickly cast aside and forgotten. And through it all, cash as a favoured form of currency will remain strong. Cash has survived centuries of change, and will do so in the future. It is the truest, most ubiquitous form of payment, understood by all, accepted by all.
“Cash remains the dominant payment method in the UK and throughout Europe” Jenny states. As alternative payment methods fight for relevance and widespread consumer adoption, the predictability of a cash transaction remains as comfortable as a dependable friend. And with companies such as YourCash delivering convenient access to cash throughout the UK, consumers will continue to choose cash for their purchasing needs. Merchants prefer cash as well. Jenny is quick to point to many businesses which remain “cash only”, such as London’s iconic Black Taxis.
Not only is cash here to stay for the foreseeable future, but notes are being engineered to last even longer. New notes technologies are now being used to print on polymer, thereby increasing the durability, cleanliness, and security of the notes. “The new polymer notes are the way to go and the industry is ready and able to cope with that,” according to the fiery CEO. Cash may be changing, and changing for the better, but it is certainly not going away! And if you hear Jenny Campbell tell it, YourCash is going to be right there to do its part in keeping “cash” the number one choice among UK consumers!
Edited by: Chelsea Leehy
Click below to hear CEO of YourCash Jenny Campbell’s full interview!