Covid-19 has had an unprecedented effect on people’s lives. Analysing this through the lense of consumer payments, the lockdown measures have had a colossal impact on the majority of businesses as they were forced to shut and people remained indoors in an effort to fight the virus.
These measures suppressed normal behaviour and, as a result, suppressed normal spending patterns: people made fewer payments as there were significantly fewer opportunities to buy clothes, a coffee or sandwich, visit the cinema or pub, or socialise with friends and family.
This meant that in 2020 significantly less payments were made than usual. Combined with negative press raising hygiene concerns about cash and the virus, as well as shops and supermarkets encouraging people to use cards instead of cash, 2020 represented a turning point in cash use in the UK.
Did Covid-19 kill cash? A look at cash use in 2020
Enryo are holding a webinar on the 15 April to explore this question.
Enryo are an independent consultancy designed to support the financial services industry as it navigates times of change. They offer support and guidance by providing agile and innovative solutions to:
- Research & education
- Stakeholder & political engagement
- Risk & resilience planning
The background for the webinar is based on the results of four quarterly surveys conducted across 2020, Enryo’s research provides some essential insights into the future of UK payments.
I’m pleased to join the panel for this webinar with Enryo co-founders David Fagleman and David Hensley.
Hear more about this research in this free to attend webinar.
Time: April 15, 2021 10:00 AM in London