Views sought on use of cash and digital payments

The consultation is open for six weeks

Business owners have been asked for their views on the use of cash and digital payments on the Isle of Man.

The survey, by the Department for Enterprise, aims to find out the levels of cash taken by retailers and how often payments on mobile phones are made.

Dr Michelle Haywood MHK said "the needs of all individuals" had to be taken into account when considering the future of payment solutions.

A consultation asking for the public's views is also set to be launched.

The survey, which is available online for six weeks, has been launched following the Access to Cash Report 2022, which was developed after shifts in cash use after the pandemic.

Dr Haywood, the MHK with responsibility for Business Isle of Man, said digital payments were "often more convenient and efficient, and being contactless they are also seen as cleaner".

'Unnecessary obstacles'

The survey aims to collect information on how much cash retailers take, if they plan to continue to accept cash in future, and the challenges accepting and banking cash.

The poll also asks for views on how owners expect the use of digital payments to change and if they had any issues accessing payment providers due to the business being located in Isle of Man.

Issues relating to the benefits or fraud risks of cashback services and the possibility of the services being offered without a purchase in future are also covered.

Dr Haywood said the survey aimed to make sure businesses were not facing any "unnecessary obstacles" in relation to taking cash or digital payments.

The department said the responses would inform future policy decisions and support a review into possible schemes to support further use of digital payments solutions.