On The Web

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Regulation

Measure to ban cashless stores advances in New Jersey

December 6 2018

• in
• Cash

“A measure that would require all brick-and-mortar retailers to accept cash was unanimously approved by the N.J. Senate Commerce Committee and will now go before the full state Senate. The bill, which was overwhelming approved by the state Assembly in June, excludes retailers inside airports from the cash requirement, and also excludes sales made online […]

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Regulation

Should cashless retail stores be banned?

September 21 2018

• in
• Cash

“If you own a retail store, should you be required to accept cash? That’s what lawmakers in New Jersey hoped to make you do. Until Amazon stepped in. The e-commerce giant, who just opened another of its cashless Amazon Go grocery stores in Chicago, has joined other big retailers like Walmart to force a delay in a bill […]

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Systems

There are now more $100 bills than $1 bills in the world

September 20 2018

• in
• Cash

“A funny thing happened on the way to a world of cryptocurrencies and mobile payments. Cash became more popular than ever. The main reason? The one hundred dollar bill. In 2017, for the first time ever, the one hundred dollar bill became the most popular US bill in circulation, beating out the one dollar bill. It is quite […]

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Global

China To 600 Retailers: We Are Not A Mobile Payments-Only Society

December 10 2018

• in
• Cash
• China

“It’s kind of odd how often this has happened, but it seems that any time a government has pushed for a cashless society, it’s drawn back at the brink. The Indian government demonetized most—but not all—of its currency. Sweden’s push to go cashless prompted regrets of its own. And now China, where mobile payment were […]

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Global

Cash is still king for Indians: Study

December 19 2018

• in
• Cash
• India

“Cash usage by people of the country went up by around 10% over the last two years starting from October 2016, a study conducted by CMS Info Systems, India’s largest cash management company, said. Cash usage recorded on the CMS cash index was as low as 46 in December 2016, which went up to 117 […]

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Systems

WHY JAPAN IS A RARE HOLDOUT IN ASIA’S CASH-FREE FUTURE

January 2 2019

• in
• Cash

“Moving away from cash doesn’t necessarily speed up commerce, since Japanese retailers are crazy good at counting change. “We trust our shopkeepers to give us accurate change,” Sayurai said. (Sayurai went to graduate school in the US, and she made it clear to me that she doesn’t think much of American shopkeepers’ cash-counting abilities.) “It’s […]

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Systems

More Americans are making no weekly purchases with cash

January 16 2019

• in
• Cash

“Americans are becoming less reliant on physical currency. Roughly three-in-ten U.S. adults (29%) say they make no purchases using cash during a typical week, up slightly from 24% in 2015. And the share who say that all or almost all of their weekly purchases are made using cash has modestly decreased, from 24% in 2015 […]

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Systems

Who Wins When Cash Is No Longer King?

December 21 2018

• in
• Cash

“Still, cashless is catching on. A second Amazon Go location in the Financial District, a few blocks west, opened this week. Walmart and Tesco are exploring similar cashless stores. The popular fast-casual restaurant Sweetgreen, the men’s retailer Bonobos, and the Drybar hair salon have all sworn off paper bills, advising employees to simply turn people away if they can’t […]

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Reports

UK CONTACTLESS PAYMENTS OVERTAKES CASH FOR FIRST TIME

January 7 2019

• in
• Cards
• Cash

“Last year saw a 15 per cent drop in notes and coins usage, strengthened by the growing popularity of contactless cards according to a new study. With €106.7 trillion revenue in 2017, the United Kingdom are the leading nation for cashless payments across Europe. Ranking second in the study, conducted by merchant account and card payment fee […]

On The Wires

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Systems

QuotePro and Fiserv Partner to Speed Credit for Cash Payments Made at Self-Service Kiosks

November 6 2018

• in
• Cash
• Kiosks

““Rather than waiting for cash to be manually deposited at the bank by staff or having an armored car service to empty the kiosk, process and deposit the cash into the business’s bank account, the provisional cash capability enabled by Fiserv technology allows for next-day availability of funds,” said Marco Freudman, CEO, QuotePro Inc. “That […]