London is embracing a cashless future, with a growing number of venues and services replacing cash transactions with digital payments. This shift has streamlined payments at various locations, including food stalls and entertainment venues. Despite the convenience, concerns arise regarding financial inclusion, as more than 1 million residents lack bank accounts. This raises important questions about whether the city's rapid transition to a digital economy can accommodate all of its citizens, especially those from underprivileged backgrounds who may rely on cash for daily transactions.
‘The transition to a cashless society raises significant concerns about financial inclusion, with over 1 million UK residents lacking access to traditional banking.’
‘While cashless payments offer convenience, there remains a pressing need to ensure that marginalized communities aren’t left behind in this shifting landscape.’
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