Banknote transactions decline drastically as the shift in the lifestyle of online shopping people in the UK.
It convinced John Howells, CEO of Link, that the ATM machine would soon disappear after more and more bank offices were closed.
Howells believes the decline in cash withdrawals would harm ATMs and lead to closure.
This prediction makes some people worried, especially for those who live in remote areas. They will lose access to cash.
Because, because there is no ATM, the consumer must withdraw money from the shop owner
This makes retailers and shopkeepers vulnerable to criminal targets because such are forced to hoard huge amounts of money.
"Either 5 or 10 more years will come a time where we do not have an ATM. We need another way for consumers to access cash through retailers, "John Howells told Mail Online.
This closure plan means some people have to walk for miles to withdraw cash because small shops, pubs and cafes do not provide ATM machines.
The warning comes when banks shut down branches in unprofitable towns and villages.
Link, which operates 70,000 ATM machines in the UK, plans to reduce 20 percent of its engines.
The British economic lobby group is worried, it is a plan to end cash circulation forever.
Well, England is getting closer to the end of physical money. How Indonesia?
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what this? can you explain to me.