I recently read an article on technologies that are targeted at retailers – specifically those that look to use Artificial Intelligence check-out solutions to take the friction out of buying and paying for goods within stores. No more turnstiles, queues, scanning or check-outs.

Without this friction, future retail outlets will have different layouts, will concentrate on experiences and bring multiple benefits to both retailers and customers. I love it when a good technology solution makes my life easier – more convenient. And it would be great, wouldn’t it, these futuristic stores where you can float in, pick up goods and float out without reaching for your wallet? If it worked for the benefit of everyone. But it doesn’t, and I believe it throws up a couple of significant issues.

Currently many are struggling to control their finances due to the intangible nature of digital payment methods. Especially Gen Z and Millennials. It’s so easy to do isn’t it? contactless card payments and phone Apps make paying so easy. Easy to pay but easier to lose track of your spending. A recent study in the UK by credit checking service ClearScore found that two out of five shoppers had lost track of their spending because of the ease of digital payment methods. Added to this is the rise in the adoption of point-of-sale loan companies, such as Affirm and Klarna. Young consumers are particularly targeted by retailers to take out a loan to buy designer jeans or shoes. My worry is that by making payments more abstract, are we creating a long-term debt problem?

This virtual world also has no place for customers who want to use cash – so it’s not inclusive. It’s taking a payment choice away from the consumer and creating a format that excludes cash-paying customers. Many use cash as a way of managing their spending. Should they be penalised for this? And believe it or not, not everyone has a bank account, so cash is their only way to pay for goods.

Bricks and Mortar stores will change – are changing – and delivering great experiences that online shopping cannot. However, they can change in a way that benefits everyone for the long term. By maintaining the ability to accept cash as well as digital payments. By maintaining a balance. At Glory, we work with retailers to make cash payments easier, more convenient and more secure for them and for their customers within modern store formats.

Like all things, technology can solve problems, but it can also create new ones. Retailers need to consider the ethical implications of payment and check-out solutions, especially for young consumers, and avoid excluding anyone who chooses to use cash.

As Christian Lous Lange, the Norweigian historian so elegantly put it – technology is a useful servant but a dangerous master. Use it wisely and for the benefit of all your customers.