Events in Europe late last week, where Visa's problems led some supermarkets to accept cash payments only, call into question attempts to prevent businesses from accepting cash. Readers of this blog may recall my own problems at a tapas bar recently when the restaurant was unable to process card payments and the only alternative was a trip to a nearby cash machine. What would have happened it the restaurant hadn't accepted cash?

Now I'm not one for turning back the clock. People are increasingly using payments other than cash and that's great - when it works. It doesn't mean we should ignore people who can't (unbanked) use cards or those who feel more comfortable (perhaps for budgetary purposes) using cash. At the end of the day it comes down to choice and large numbers still choose cash.

Shake Shack in the US is one example of a store that has had to reverse its 'no cash' policy in response to public demand. In May the burger chain announced that it was abandoning the experiment and would be deploying cashiers at its outlets.

Similarly, in Sweden, widely recognised as leading the way to a cashless society, the governor of the central bank expressed concern at the speed of change earlier this year. In an April article in The Guardian a Swedish digital security consultant was quoted as saying 'we are naive to think we can abandon cash completely and rely on technology instead '. This would appear to reflect the view of the public. In a recent opinion poll seven out of ten respondents wanted to keep the option of paying by cash.

As to Friday's events, glitches happen. It's not a major issue while there are alternatives available. However, the question has to be asked 'what would have happened in a cashless society?'