An MEP for this region claims its vital legislation which would provide people with a ‘safety net’ by cementing the use of cash across the EU is pushed through.
It comes in a week where many businesses across Clare were forced to only accept cash payments in the aftermath of Storm Éowyn.
In June of 2023, the European Commission proposed legislation to safeguard the role of cash across all EU member states.
The regulation would ensure any form of payment must be accepted as legal tender, with some limited exceptions and it’s hoped this will pass through the European Parliament later this year.
The countywide power outages experienced this week are said to have highlighted the importance of carrying cash while card payments can cost SME’s up to 3% of sales due to transaction fees charged by companies.
Ireland South MEP Cynthia Ní Mhurchú says people need to have a fallback option and that cash payments provide incredibly valuable income for small businesses.
A Clare Active Retirement member claims elderly people across Clare wouldn’t be able to survive in a cashless society.
Digital Ambassador, Eugene Phillips says shop owners are shooting themselves in the foot by operating a cashless store, as some elderly people don’t have cards to complete contactless payments.
The Quin native claims elderly people are becoming more familiar with cashless payments, but need to have the choice to pay with cash.
You can listen to the full interview here: