Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
IRGC Commander Major General Mohammad Pakpour: As time passes, the people's solidarity increases, which is a divine blessing
IRGC Commander Major General Mohammad Pakpour: The Iranian Revolution Guard Corps' aerospace operations will not stop
Russian Foreign Ministry: IAEA Director General Rafael Grossi must ensure that an objective report is presented at the special session of the International Atomic Energy Agency (IAEA)
Russian Foreign Ministry: The UN Security Council must respond to the US attacks on Iran
Russian Foreign Ministry: We strongly condemn the US strikes on Iran, calling the decision irresponsible
Iranian Red Crescent: Three personnel martyred, 29 injured in Israeli aggression
IRGC: We have identified and monitored the departure points of the US aircraft that carried out the aggression
IRGC: America has neither the initiative nor the ability to escape the consequences of a powerful response
IRGC: We strongly affirm that Iran's peaceful nuclear technology cannot be destroyed by any attack
Iran's IRGC: Washington has placed itself directly on the frontline of aggression by attacking peaceful facilities

Global IT outage exposes dangers of cashless society, campaigners warn

  • By Al Mayadeen English
  • Source: The Guardian
  • 21 Jul 2024 10:57
  • 1 Shares
2 Min Read

The Payment Choice Alliance emphasizes that cash serves as a crucial backup when digital payment systems fail.

Listen
  • x
  • A person holding the British pound (AFP)
    A person holding the British pound (AFP)

Campaigners argue that the disruption caused by last week's global IT outage highlights the dangers of transitioning to a cashless society.

On Friday, a failure in Microsoft systems affected supermarkets, banks, pubs, cafes, train stations, and airports, preventing many from processing electronic payments. The problem was particularly severe for businesses that have stopped accepting cash.

The Payment Choice Alliance (PCA), which advocates against a cashless society, has identified 23 companies and organizations, some of which exclusively accept credit or debit cards.

“There will always be outages,” said Ron Delnevo, the PCA’s chair, as quoted by The Guardian.

“But if there is no alternative, then the whole thing can collapse around you,” he stressed.

Dive deeper

According to UK Finance, which represents banks, cash payments increased for the first time in a decade last year. The number of people who never use cash or use it less than once a month fell from 23.1 million in 2021 to 21.6 million last year.

UK Finance maintained that cash still has a significant role.

On its part, the GMB Union stated that the recent outage underscored its long-standing argument that "cash is a vital part of how our communities operate."

“When you take cash out of the system, people have nothing to fall back on, impacting on how they do the everyday basics,” it emphasized.

Several smaller, unrelated outages have already affected retailers this year. In March, McDonald’s, Tesco, Sainsbury’s, and Gregg’s suffered problems with their payment systems. All of the outlets also accept cash.

Authorities in China and the US have fined businesses for not accepting cash. 

Read more: Musk ditches CrowdStrike following global outage

  • cashless society
  • cash
  • Banks
  • Global IT outage
  • Cryptocurrency

Most Read

Iran launches 9th wave of Op. True Promise 3, destroys IOF air defense

Iran launches 9th wave of Op. True Promise 3, destroys IOF air defense

  • MENA
  • 17 Jun 2025
Rescue team work at the site where a missile launched from Iran struck Tel Aviv, Israel, Monday, June 16, 2025 (AP)

Wave 12 of Operation True Promise 3 launched, Sejjil deployed: IRGC

  • Politics
  • 18 Jun 2025
Iran launches missile barrage to Tel Aviv, casualties reported

True Promise 3, wave 14: Tel Aviv targeted, casualties reported

  • Politics
  • 19 Jun 2025
Iran's heavy barrages impact multiple Israeli targets overnight

Iran's heavy barrages impact multiple Israeli targets overnight

  • Palestine
  • 18 Jun 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
Iran’s Bavar-373 air defense system on display during a military drill (Mehr News Agency)
Politics

Iran intercepts Israeli drones near Tehran, multiple cities

The Israeli Iron Dome air defense system fires to intercept missiles during an Iranian attack over Tel Aviv, Occupied Palestine, Sunday, June 15, 2025 (AP)
Politics

Iran warns aid to 'Israel' will be treated as aggression

US President Donald Trump arrives to board Air Force One at Joint Base Andrews, Friday, June 20, 2025, en route to Montclair, New Jersey (AP)
Politics

Trump, Erdogan made covert attempts to hold talks with Iran: Axios

Ansar Allah supporters surround a giant Iranian flag during an anti-US and anti-'Israel' weekly rally in Sanaa, Yemen, Friday, June 20, 2025 (AP)
Politics

US ships in Red Sea will be targeted if US attacks Iran: YAF

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS