Businesses selling in-person goods and services will be required to accept cash payments from 2028.

States Members overwhelmingly backed a move from Deputy Montfort Tadier that requires the next Council of Ministers to bring forward a policy paper – including a review of bank fees for depositing cash – by next March.

Deputy Tadier said that the Assembly should set a “clear direction of travel” to protect cash, adding that the “window of opportunity” to intervene against the rising tide of digital payments was now.

The proposition means that in-person businesses will need to accept cash as standard. However, a caveat has been included to allow “reasonable exemptions” which would be developed by the next Council of Ministers.

In opening the debate yesterday afternoon, Deputy Tadier produced a £10 note from his wallet and questioned its true value.

“I don’t know if in ten years’ time, we will still have Jersey £10 notes”, he said. “I don’t know if in ten years’ time, it will have the same currency value in terms of where we can use this.

“I know that at the moment, if I step out of the Assembly, I can go to all sorts of places within walking distance and exchange this for £10 worth of goods and services. But that is not the case in all places.”

Chief Minister Lyndon Farnham said that, while he agreed with the principle of cash, Jersey businesses “operate in a challenging environment” and careful consideration of forcing firms to accept physical payments was needed.

However, he said: “Systems do fail and physical cash can offer a reliable fallback.” He ultimately supported the proposition.

Several Members said that accepting cash would promote inclusivity for all islanders – some of whom may not have access to a bank account, may be in an abusive relationship where their bank transactions are restricted and tracked, or who simply prefer using cash.

Last year, the Economic and International Affairs Scrutiny Panel, which is chaired by Deputy Tadier, conducted a review of the acceptance of cash payments.

Its findings revealed that, of 2,696 responses to an anonymous five-minute survey, 92% of businesses stated that they accepted both cash and digital payments, while 6% revealed that they only accepted digital payments.

Members ultimately approved the proposition by 31 votes to eight, with two abstentions.