Top Bank of England official warns cash is becoming “less usable” as more people opt for digital payments

he deputy governor of the Bank of England, the United Kingdom’s central bank, warned that cash is becoming “less usable” as consumers and retailers alike increasingly reject bank notes and embrace online shopping and digital payment options. This is according to Sir Jon Cunliffe, who noted how online shopping and contactless payment options are becoming more popular, leading to physical money becoming harder to use. (Related: European Parliament to criminalize physical cash use by imposing limit on cash transactions.)

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