Forum: Have more businesses accept cash payments to help seniors
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I refer to the local banks’ move to make it easier for seniors who mainly use cash to access ATMs, branches or cashpoints (ATMs, cashpoints will be closer to home as Singapore banks expand support for seniors, June 25).
However, this easy access to cash and physical banking channels must be matched by vendors’ acceptance of cash for payment.
The prevalence of cashless-only stores, some of which do not accept the FlashPay card, does not promote the inclusion of seniors who need to use cash.
I am not suggesting amending the section in the Currency Act 1967 that allows vendors to not accept cash. Doing so would be a one-dimensional move.
Instead, I am advocating a softer approach of moral suasion and incentivisation to get some businesses on board to commit to accepting cash for a social good.
The pitch to accept cash should typically target businesses such as food establishments, markets, supermarkets, clinics and transport providers.
These were the businesses identified as essential services during the Covid-19 pandemic.
A rising tide lifts all boats, but seniors who have difficulties navigating digital transfers of funds are in a different kind of boat.
They should not be seen as resisting change for finding security in using cash for their daily needs. Inclusion means accepting their limitations.
Lai Yew Chan
