Payments News

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Systems

Cashless Stores Are the Hot New Thing. Now Politicians Are Stepping in

“Cashless stores and events are just starting to crop up in the retail landscape with much hoopla — consider the splashy launches of Amazon Go stores —  but they’re already running into hurdles from legislators in cities and states around the country. These governments are concerned that what some see as technological innovation could actually widen […]
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Systems

In the UK, Getting Cash Often Costs More If You’re Poor

“More than 80% of cash machines in the UK are free to use. But if you are poor, no matter where you live in the country, the chances are higher that a machine in your area will charge a fee, according to Link ATM network and parliamentary constituency data compiled by Quartz. This discrepancy is […]
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Systems

The New Rules of Conduct in a World Without Cash

“As more people swap funds via apps—over $21 billion was sent using Venmo in the first quarter of 2019, up 73% from the same time last year—cash is starting to burn a hole in people’s pockets. From takeout spots to Amazon Go markets to your buddy Carl, paper money is increasingly being rejected. However, the […]
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Reports

Making Change: Payments, Perspectives, and Politics

“Depending on where you live, the concept of “cashless” is either a heated debate, the wave of the future, or a term you’ve never heard of. New Square data shows American consumers have grown less reliant on cash in the last four years, and the trend is spreading from coastal coffee shops to rural restaurants.”
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Systems

Kenya Is Introducing New Banknotes in a Bid to Fight Corruption

“Kenya has fired a direct shot at the nation’s endemic corruption: by issuing a new generation of banknotes. In a surprise move, the government announced the 1,000 shillings ($10) note will be discontinued by October 1 in a bid to fight corruption, counterfeit, and money laundering. Central bank governor Patrick Njoroge said people who want […]
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Regulation

Banking Trade Body UK Finance Commits to Support Free Access to Cash

“And one of the first things it will need to do is define ‘appropriate’ free access to cash. UK Finance is building on the Access to Cash Review, chaired by Natalie Ceeney. The independent Access to Cash Review considers consumer requirements for cash over the next five to 15 years. Specifically, the review examines future […]
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Systems

One in 10 Adults in UK Have Gone ‘Cashless’, Data Shows

“One in 10 adults in the UK are now choosing to live a largely cashless life as contactless and mobile payments explode in popularity, official data reveals. Among those aged 25 to 34, the figure rises to more than one in six (17%), said the banking body UK Finance . It defined an almost cashless […]
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Systems

Is Cash The Only Charitable Payment Method?

“While we continuously discuss the demise of cash, should we be thinking more about how the decrease in use of paper money would affect the vulnerable? It could be argued that cash should remain in circulation until innovators can ensure that digital payments can be inclusive. Notably Sweden leads the way for cashless payments, so […]
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Reports

Cash Trends in the Modern World

“Cash as a payment medium is alive and well, even if it is slowly decreasing as a proportion of total payments. Cash’s share of total payments has declined, on average, 1 to 2 percentage points each year since 2015, when we began conducting DCPC studies regularly. The latest DCPC shows cash is the second most […]