Could we soon have an entirely cashless society?

The recent introductions of the new £5 note and £1 coin prompted some excitement, but cash could become a real novelty item before too long.

It's been a couple of years since cashless payments overtook the use of notes and coins for the first time.

With the ability to pay for items up to £30 with contactless cards, smartphones or even payment rings, the days where we dig into a purse or wallet for spare change could be numbered.

Of course there would be challenges to address if cash became entirely redundant.

What about unlocking supermarket trolleys? Would there still be a role for bank clerks? Would the homeless and street performers need the facility to accept cashless payments?

Many would also feel uncomfortable in a cashless society, where all wealth was represented by 1s and 0s on a computer screen.