Ukash has welcomed reports that incoming Bank of England governor Mark Carney could introduce Canadian-style plastic cash. David Hunter, chief executive at the e-money proponent, says this is a sure-fire sign that cash isn’t going to leave UK pockets and wallets anytime soon.

“Despite latest data showing an increase in the use of cash, there are plenty who would say cash is on the wane and we’ll all be relying on plastic cards and smartphones to transact in the near future. I dispute that theory vehemently,” he comments. “I think there will always be a demand for real cash for those consumers who simply don’t want to, or can’t, use credit or debit cards. From the ‘jam jar’ consumers who think the best way to know what they’ve got to spend is to be able to literally see it, to those who can’t get access to conventional bank or credit services. There’s also a growing community of ‘cash champions’ who simply don’t want their shopping behaviours tracked through credit or debit card loyalty schemes.”

He continues: “Contrary to some who believe that cash is only for the impoverished – and without credit there’s little way out of poverty – we believe cash must remain a fundamental component of any balanced society. What we must, therefore, do is ensure these consumers – of which there are and I think will continue to be – millions, can tap into the burgeoning online world which, at first glance, seems only accessible to those who have credit or debit cards. With global e-money like Ukash, all sections of society that don’t want to, or can’t use credit or conventional banking don’t need to lose out on the great deals and offers available in the e-sphere. So I am encouraged that whilst Mark Carney might be thinking about plastic cash – it is literally that. Cash printed on plastic!”

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