Is Cash Still King?

Nicky Severn from Loomis UK (www.loomis .co.uk) discusses the impor tance of cash in today’s society and how those in the hospitality sector can best manage this invaluable payment tool

For a while now exper ts have been predicting the death of cash and as contactless cards, mobile payment platforms and other digital payment options proliferate , the need to carr y cash has, for many, reduced And yet, we must be aware of the dangers of sleepwalking into a cashless sociecty

Cash is still incredibly impor tant

It provides inclusivity and accessibility for many

For example , there are many people who are less comfor table with technolog y and who are reluctant to launch their full payment ability into digital cyber space

There are those who live in rural communities with poor digital connection and there are those with challenging financial situations who may not be able or willing to have a bank account According to Bank of England there are still over 1 million people inthe UK who are ’unbanked’ leaving them totally reliant on cash What’s more , in the light of the recent cost of living crisis, there s whole new swathe of people who have found that cash is the best way to budget effectively in challenging times Paying digitially can often mean we are tempted to spend above and beyond our preferred limits – with cash you can’t go over budget and that’s why ideas such as ’envelope cash stuffing’ have become a social media phenomena!

Impor tantly too we should remember that there are individuals who are reluctant to spend digitially due to their preference for privacy Some do not like the possiblity of ’big brother’ traking our spending habits and the potential control this gives card companies over our daily lives

With all these factors in mind it is obvious that there are many people for whom cash is their preferreed

The British Street Food Awards in Association with Majisign

The British Street Food Awards were founded back in 2009 by Food Mutiny, the events company star ted by award-winning food journalist and broadcaster Richard Johnson British Street Food Awards

The British Street Food Awards are all about recognising the best of the new food heroes who are selling food on our streets through a great series of live events in the summer Taking place all over the UK and Europe , visitors will be able to sample the ver y best from the street food finalists whilst they cook to win your vote and the vote of the exper t judging panel made up of Michelin-star Chefs and Food Writers Majisign Ltd are delighted to once again be making the trophies to celebrate the street food winners of the

Make The Most Of Your Outdoor Spaces

In the ever-evolving hospitality industr y, creating unforgettable guest experiences is paramount One way to achieve this is by incorporating high-quality outdoor furniture that not only complements the aesthetics of your establishment but also provides numerous benefits to your guests Hotel Buyer, a leading supplier of hospitality products offers a wide range of outdoor furniture options that can elevate your hotel’s outdoor spaces to new heights

Hotel Buyer’s outdoor furniture selection features ergonomically designed chairs, sofas, loungers, and tables that provide optimal comfor t without compromising on style With a variety of contemporar y and timeless designs Hotel Buyer’s furniture seamlessly blends with any outdoor setting, whether it’s a rooftop terrace , poolside area,

Method Of Payment And Many Others Who Like To Use It Combination With Digital Transactions

For those in the hospitality industr y therefore refusing to accept cash could prove to be extremely damaging In the vast majority of scenarios, providng customers with the flexibility and payment choice is the optimal solution –in fact many people consider and expect the right to choose how they pay as a basic human right

Alongside the impor tance of providing customer choice , there is another reason why the acceptance of cash remains impor tant Imagine the scenario - a cyber attack, natural disasters or other significant events that knock out internet connections, digital banking and payment systems If there were no physical alternative to digital payment, the whole payment eco-system would be left high and dr y!

It is for a combination of the reasons above that the UK government is keeping a close eye on protecting cash and an independent Access to Cash Review was established in 2018 While not advocating “ a view on the merits of a cashless society” the Review highlighted the risks to millions of people of such a situation and called on Government, regulators and financial ser vices to work together to keep cash viable for the foreseeable future

In the 2020 Budget the UK Government made a commitment to legislating to protect access to cash and there have been a number other measures taken and action groups established to do so

The dangers of leaning too far into the cashless arena have already been demonstrated Take Norway for instance , it is on the verge of being a cashless society but now the Norwegian government is applying the brakes, with proposals planned to force businesses to accept cash Why? Not ever yone is comfor table with digital solutions and there have been issues with payment systems going down in recent years One such event happened the day before Norway s constitution day in 2022 and caused chaos for consumers stocking up on champagne , beer and food for the big day Consumers were forced to use cash where possible or miss out and the government said the experience “showed us that the ability to pay with cash must be preser ved ”

So all that being said, what is the role of Loomis in helping to keep cash alive?

In an environment where bank branches are closing at a steady rate , Loomis is proud to provide an alternative way for transactional businesses in sectors such as hospitaity to deal with the cash coming into their businesses

From smar t safes and cash collection, to cash processing ser vices and coin and note deliver y, Loomis UK suppor ts businesses throughout the UK by providing safe secure and effective solutions to cash management Here at Loomis, we firmly believe that it’s still vital to keep the cash flowing and we are proud to help businessses do so For fur ther information please visit www.loomis.co.uk

2023 British Street Food Awards We create wooden A Boards, condiment holders and menu holders primarily for the hospitality industr y and working closely with the founder Richard Johnson we are proud to be a par t of championing the world’s new food heroes and the Michelin stars of tomorrow

The 2023 British Street Food Awards are underway so visit them to taste the best in UK street food and vote to send your favourites to the final of the British Street Food Awards in August

The finalists who win the grand finals in London, they can go to the final of the European Street Food Awards in September Visit www majisign co uk or garden oasis Crafted from premium materials such as teak, aluminium, and synthetic rattan, commercial products are designed to withstand UK weather conditions

By investing in outdoor furniture , you elevate the guest experience to new heights Thoughtfully designed outdoor spaces with comfor table seating arrangements encourage guests to unwind, socialize , and connect with nature Whether it’s savouring a cup of coffee on a sunny morning or enjoying a sunset cocktail, these inviting outdoor spaces create lasting memories and leave a positive impression on your guests

Hotel Buyer s outdoor furniture collection offers a range of benefits for hospitality businesses seeking to enhance their outdoor spaces The combination of durability, comfor t, style , versatility, and customization ensures that your hotel’s outdoor areas become captivating and welcoming spaces for guests to enjoy By investing in Hotel Buyer’s outdoor furniture , you not only elevate your establishment’s aesthetics but also provide memorable experiences that differentiate your hotel from the competition https://www.hotel-buyer-store

.co.uk/garden-and-outdoor-furniture 1