Source · Select Committees · Treasury Committee
Recommendation 117
117
Physical cash maintains vital independent role when digital payment systems fail
Conclusion
Digital payments systems are vulnerable to failure for reasons ranging from accidents or hostile actions by state actors, through to failure by a supplier in a retail bank’s digital supply chain. Physical cash has a vital role to play as a payment method that is independent, that is backed by the UK Government and that can be used as an analogue payment method when digital ones fail. (Conclusion)
Government Response
A response document is linked to this report, dated 12 July 2025. Response attribution to this conclusion has not been verified. Read the response document ↗