Payments News » Cash

Swedish Opposition to Cash-Free Economy Gains Momentum

March 14 2018

“Less than 400 years after it became the first European country to introduce banknotes, Sweden is on track to become the world’s first cashless economy. And while proponents of this no-bill world believe it will lead to a reduction in crime and save the government money, others are worried. Defenders of rural areas, small businesses, […]

Systems

Should Your Business Go Cashless? Three Questions To Help Decide

March 9 2018

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Cash

“The share of transactions that don’t involve cash grew by 20% between 2010 and 2014, according to a study (download required) by the World Payments Report. TSYS, a U.S. credit card processor, surveyed consumers and found that a credit or debit card was the preferred way to pay for 75% of respondents, while only 11% favored cash.”

Global

Cash May Disappear in China as Payments Go Digital, PBOC Says

March 9 2018

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Cash

“Just because China’s financial regulators are cracking down on cryptocurrencies doesn’t mean they’re souring on the idea of digital money. People’s Bank of China Governor Zhou Xiaochuan made that clear at a press conference in Beijing on Friday, saying physical cash may one day become obsolete. Zhou said the PBOC is looking into digital currencies as […]

Global

March 1 2018

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Cash

“There’s also a legal foundation for Sweden to go sans-cash. The nation’s commercial law is unique, because it allows stores to overrule the central bank law requiring companies to accept Swedish krona. If a store has a sign saying that cash isn’t accepted, and many of them do, then it’s assumed that its customers have entered […]

Systems

Should the U.S. Retire the Penny and Nickel?

March 19 2018

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Cash

“It famously costs the U.S. Mint more to make each one- and five-cent piece than the coins themselves are worth. And yet, shipments of pennies by the Mint, in response to demand from commercial banks and other financial institutions, grew to 59.9% of total coin shipments in fiscal 2017, up from 55.9% in the previous […]

Context

Is Cash Dead? An International View

March 20 2018

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Cash

“Well, there’s life in the old dog yet, particularly internationally. Why? Cash is very popular in geographies where people mistrust their banks and governments. Electronic payments require trust in data privacy because consumers can be tracked. So where is cash still strong, and where is it faltering globally?”

Global

India’s ATM crisis proves that demonetisation failed and cash remains king

April 18 2018

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Cash
India

“For weeks now, ATMs across India have been displaying the “no cash” sign. The situation came to a head in the past few days, setting off a panic wave. Many of the counters have run dry in states like Andhra Pradesh, Telangana, Karnataka, Madhya Pradesh, Gujarat, Uttar Pradesh, Bihar, and Manipur. People are seen forming […]

Global

Industry ministry report urges Japan to shed custom of cash dependence

April 11 2018

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Cash
Japan

“The report, entitled “Cashless Vision,” said more cashless payments could help ease the country’s labor shortage and benefit foreign tourists, and that if current levels are maintained it could cost the economy hundreds of billions of yen in the coming years. It said that Japan should strive to boost the cashless payment ratio to 40 […]

Systems

‘Being cash-free puts us at risk of attack’: Swedes turn against cashlessness

April 3 2018

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Cash

“It is hard to argue that you cannot trust the government when the government isn’t really all that bad. This is the problem facing the small but growing number of Swedes anxious about their country’s rush to embrace a cash-free society. Most consumers already say they manage without cash altogether, while shops and cafes increasingly refuse […]

Companies

Coinstar Teams with Amazon to Provide Amazon Cash Reload Sites

May 15 2018

“Coinstar announced today that customers can now add cash to their Amazon Balance by using Amazon Cash at select Coinstar kiosks across the country. “We’re excited to team up with Amazon and give shoppers an easy and convenient way to add cash to their Amazon Balance,” said Jim Gaherity, CEO of Coinstar, LLC.”