Is the cashless society a good thing? Definitely not

On a quiet news day, not much happens if you’re a reporter. It’s tempting to sit back, surf the internet, check your social media profiles and mull over dinner prospects. Then there’s the lure of online shopping sites: ASOS, Amazon, you name it, they’re there at the click of a button.

Ordering online can be dangerous. It doesn’t really feel like spending money, particularly if you have a debit or credit card set up already. All it takes is a few seconds to spend hundreds of pounds. I know because I’ve done it.

Now comes the news that we are moving ever closer to becoming a cashless society. According to Payments UK, which represents the major banks, building societies and payment providers, 2015 was the first year that cash was used for less than half of all payments by consumers. The organisation believes that cash usage will be eclipsed by debit cards and contactless payments by 2021.