Payments News

On The Web

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Systems

Who Gets Hurt When the World Stops Using Cash

“Cash doesn’t have the status it used to. In fact, some state and local governments are forcing businesses like restaurants and retail shops to continue accepting cash — concerned that cashless businesses effectively discriminate against consumers who do not have bank accounts or credit cards. New York City will require most stores and restaurants to […]
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Global

Pandemic Or Not, Germans Still Prefer Cash

“Germany’s central bank issued 17 billion euros more notes and coins in March than it did the previous month. The Bundesbank told NPR that while this spike was an initial reaction to the health crisis, consumer demand means the bank is still issuing normal amounts of cash, roughly 3 billion to 5 billion euros a […]
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Systems

Fact Check: America in the Midst of a National Coin Shortage

“As the spreading coronavirus and resulting business closures crippled economic activity in the United States, the circulation of coins dropped off significantly. The U.S. Mint, which manufactures the nation’s coin supply, also decreased staffing in response to the pandemic.  As the nation’s businesses have reopened, demand for coins has exceeded the available supply.”
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Systems

Our Cash-Free Future Is Getting Closer

“Fears over transmission of the disease have compelled consumers to rethink how they shop and pay. Retailers and restaurants are favoring clicks over cash to reduce exposure for employees. China’s central bank sterilized bank notes in regions affected by the virus. And governments from India to Kenya to Sweden, as well as the United Nations, […]
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Systems

Bipartisan Senate Bill Would Punish Retailers for Refusing Cash Payments

“Sens. Bob Menendez, D-N.J., and Kevin Cramer, R-N.D., have introduced a bill prohibiting retailers from declining cash payments from customers, as businesses promote “contactless” digital payment as they grapple with the coronavirus pandemic .  Retailers and mall owners, including Nordstrom and Simon Malls, have encouraged the use of contactless transactions such as Apple Pay to […]
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Systems

Casinos Consider Cashless Gambling to Fight Coronavirus

“The U.S. casino industry remains a bastion of cash in an increasingly cashless world, where high-security vaults storing millions of dollars have inspired heist movies and the living-large vibe of Las Vegas is ferried in bags bulging with currency. But the coronavirus pandemic has generated concern over bills circulating among hundreds of hands on the […]

On The Wires

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Global

Paysafecash launches in Mexico enabling online cash purchases

“Paysafecash launches in Mexico as an alternative payment method for customers who want to pay online easily and safely using cash. The eCash solution was developed by paysafecard, part of the leading specialised payments platform Paysafe. Now available in 28 countries, Paysafecash is ideal for consumers who do not wish to share sensitive financial data […]
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Reports

Cash and the Pandemic: New Report from Square

“In the report below we examine Square data from our sellers across the UK to determine how the pandemic has affected payments preferences. We review how the behaviour at the physical and digital tills of the UK’s small businesses has changed, and explore whether these changes are a passing phase or are here to stay.”
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Systems

United States Mint Issues Statement on Circulating Coins

“The impact of COVID-19 has resulted in the disruption of the supply channels of circulating coinage – the pennies, nickels, dimes, and quarters that the American people and businesses use in their day-to-day transactions. The United States Mint is part of the solution to this issue, but we need your help as well. In normal […]