Issue with card payments points to need for cash at the ready

Situations, such as those which occurred in July when a global IT outage impacted retailers ability to connect to the internet and accept digital payments, proved that retailers should continue to accept cash for the good of their businesses. 

Notwithstanding the recent global issues on 18th/19th, which some media termed a ‘global meltdown’, there were separate issues in the UK on 11th July when widespread issues with card payments were reported. 

Many social media users were reporting being unable to pay for their shopping in supermarkets that morning and numerous consumers were flagging issues. Thankfully, the problem was relatively short lived, with the problem being traced to a service disruption from a specific provider processing card payments for retailers.

The problems were the latest in a line of technical issues in recent months. Whilst usually quickly remedied, they serve to highlight the vital role cash plays across the globe. In situations such as those described above some retailers would surely have missed out on business, takings and profits. Some, such as coffee shops and cafes had little choice other than offering their customers free beverages in order to keep their faithful clients happy and on-side. These instances prove that cash is a important payments back-up and those who choose to go cash-free are taking a definite risk. Although cash volumes have obviously decreased in the UK, it seems that cash and access to it is more important than ever. In one town in the South Midlands it was reported that cash machines on the high street were so in demand that some completely ran out of cash during the outage. Again this was quickly remedied but it proves the point that access to cash needs to remain in all towns in the UK.