Pre pandemic the UK was already seeing to move towards a predominately cashless society by 2025. But now cash could be virtually wiped out in the UK within two due to COVID-19, with many businesses who have reopened since the lockdown already refusing to accept notes and coins due to the contactless payment limited being increased from £30 to £45 in the UK.
Added to this, receiving money in good time has never been more important with cashflow being the number one concern of most UK businesses during the pandemic. Late payments can have a critical impact on the health of a business.
In this session we will explore how businesses are focusing on reducing late payments, removing cash and focusing on cashless and online payments as well as how their are expanding with sales channels online as shopping habits have been forever changed in the wake of COVID-19.