The Watch House, a stone's throw from Tower Bridge in London, plays the part of the hipster cafe very well. Sourdough bread is stacked on shelves, baskets brim with oranges and avocados, and tables are abuzz with young professionals on laptops and a smattering of foreign visitors who have strayed off the main tourist trail. So far, so predictable. But the Watch House's modernity has gone a step further. Since the start of the year, this has been a cashless cafe.

Manager Emma Burgess, who heads a team of waiters armed with iPads, says it was a smooth transition. "Eighty per cent of our customers were already paying with cards, so it was a logical next step." Banning cash not only chimes with the feel of the place, it has saved time and money – a 45-minute bank run two or three times a week. Crucially, it has also made the Watch House safer. "Late last year," says Burgess, "we had four break-ins within two months, where thieves targeted our cash takings. That was the driving force for this: security."

Financial Times