When did you last use an ATM? Or pay for something in cash? The chances are that, for many people, the answer is months ago – perhaps even before the pandemic. Innovation in electronic point-of-sale technology means that paying digitally is the norm, even at the market, coffee takeaway or corner shop.
In March 2020, the World Health Organization warned that banknotes might spread the virus; transaction limits on contactless payments were raised in many countries in response and this, combined with a sharp rise in online shopping during lockdown, caused cash transactions to plummet.