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  • So if you were looking to buy a coffee a couple years ago here in London,

  • it might have been normal to ask the question, “Do you take cards?”

  • Now that question is increasingly becoming, “Do you take cash?”

  • We probably have customers here now that don't even know we don't accept cash

  • because they just tap their card and go.

  • Ross Brown stopped accepting cash at his London cafe

  • more than a year ago after a trip to Sweden,

  • where he said paper money was nowhere to be found.

  • Have you noticed any change in business since you stopped accepting cash?

  • If anything, it's been great for our business.

  • We found that the time it takes to count the cash, go to the bank,

  • understand, oh you know, "Are we £4 up, £3 down, where's this money gone?"

  • It wasn't an effective use of time.

  • Browns of Brockley is among a growing number of small businesses in London

  • that are choosing to ditch cash.

  • A recent report found the U.K. is the third most likely country in the world

  • to gocashlessafter Canada and Sweden.

  • British consumers are more likely to pay with debit cards than cash

  • for the first time ever this year.

  • So it's not even an option to use cash on London's buses.

  • But they will gladly accept contactless payments on your smartphone.

  • The city says contactless payments make traveling

  • faster and easier for millions of commuters.

  • 40% of all journeys on London's transport network

  • are made using contactless payments. That's up from 25% in 2016.

  • This transition toward digital and card payments is forcing many organizations

  • that typically relied on cash to embrace new technology.

  • Take the Church of England, which recently announced

  • it will start accepting contactless payments

  • with the help of two fintech companies.

  • The church is taking card for things like weddings, christenings and one-off donations.

  • And in the future it even plans to pass around a card reader for collection at services.

  • One business that would miss out in a cashless society?

  • The people who make these things, ATMs.

  • Graham Mott is head of strategy at LINK, which connects 70,000 ATMs around the U.K.

  • ATMs are still very very important to people.

  • And there's quite a lot of people who rely on cash a lot.

  • There's about 2.7 million who basically pay everything in cash.

  • All the time?

  • All the time.

  • Research suggests many of those 2.7 million people are elderly or low-income.

  • The transition to a cashless society could be especially difficult for occupations like

  • builders, gardeners or nannies that rely on cash payments and tips.

  • Mott said millions of people still rely on ATMs,

  • which he doesn't see going away anytime soon.

  • People have a very strong emotional attachment to cash.

  • It's very important to them. It's a strong sense of identity.

  • I think it will be a long long way from getting rid of cash.

  • Hey everyone it's Elizabeth. Thanks so much for watching!

  • Be sure to check out more of our videos over here.

  • We're also always taking your suggestions for future ideas

  • so leave those in the comments section.

  • And be sure to subscribe to our channel. Bye for now!

So if you were looking to buy a coffee a couple years ago here in London,

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