Payments News

On The Web

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Global

Crunchtime for Cash at Singapore’s Famed Hawker Food Stalls

“Singapore officials trying to digitize the economy are targeting a tricky group of holdouts: elderly vendors who run the country’s famed hawker stalls. For generations of Singaporeans, stalls selling popular street food have been an indispensable part of local life. Even amid unbearable midday heat, these open-air complexes draw office professionals, families and retirees with […]
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Systems

Cash Is Most Dominant in Romania, Egypt, Kazakhstan, Bulgaria and Ukraine

“Despite digital payment advancements and the availability of mobile wallets in most countries, cash remains a prominent payment form — especially in Romania, where 78% of transactions are still made with cash. Romania tops a list of top 10 cash-dependent countries across the globe, according to research from Merchant Machine , a U.K.-based organization that […]
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Systems

Cash-Loving Japan Shifts From Banknotes in Boost for Lenders

“The coronavirus pandemic has encouraged more cash-loving Japanese to move away from banknotes and coins, giving a boost for banks in their drive toward digitalization, the industry’s lobby group chief said. “A trend toward cashless payments, which so far progressed gradually, has picked up speed during the pandemic,” Kanetsugu Mike, chairman of the Japanese Bankers […]
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Systems

Don’t Bank on Covid-19 Killing Off Cash Just Yet

“Peter Coffey, an advertising copywriter, has used cash just once since the Covid-19 pandemic started—to buy a used car. When the health crisis began, he set up his smartphone’s tap-to-pay function with a credit card. “Some places weren’t accepting cash. I just got into the habit of never even thinking about cash,” he said. Mr. […]
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Systems

Thieves Target ATMs Flush With Cash During Covid-19

“Attempts to break into ATMs and steal cash more than doubled in the U.S. last year, as some criminals took advantage of civil unrest in cities and others targeted the larger-than-usual amounts of cash stocked in machines when banks closed due to the coronavirus pandemic, ATM security companies said.”
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Systems

Cash Machine Use Fell 38% in 2020 Due to Covid Contact Fears

“A sharp fall in cash machine usage last year has prompted a warning that more ATMs could end up being closed or imposing fees. Link , the UK’s largest cash machine network, said its latest data showed there was a 38% decline in ATM transactions in 2020, caused in large part by the coronavirus crisis.”
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Global

France to Shut Almost 40% of Cash-Handling Centers

“The Bank of France will shut down more than a third of its cash handling centers by the end of 2022 as the Covid-19 pandemic accelerates a decline in the use of notes and coins.    Operations will cease at 14 of the 37 centers that stock currency and replace damaged notes and coins. The […]

On The Wires

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Systems

Santander and Prosegur Cash Launch Cash Today, the First Digital Cash Management Service for Companies

“Santander and Prosegur Cash have teamed up to launch a ground-breaking, in-store digital cash management solution. Christened Cash Today, the pioneering service, available from 19 April, means customers will immediately get the cash they collect in their bank accounts. The initiative, which combines the strengths of two companies at the forefront of their industries, gives […]
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Domains

Paysafe Partners With RentMoola to Enable US Renters to Pay Rent Online With Cash

“Paysafe, a leading integrated payments platform, today announced its expanded partnership with RentMoola, the North American online rent payment platform. Building on its long-standing payment processing partnership with Paysafe, RentMoola has now added the company’s Paysafecash™ eCash alternative payment method to better serve U.S. tenants whose payment preference is cash.”
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Companies

ACI Worldwide and InComm Payments Partner to Digitize Cash Payments, Driving Financial Inclusion Amid the Pandemic

“ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time digital payment software and solutions , and InComm Payments , a leading global payments technology company, today announced a partnership that will digitize cash payments through the use of a barcode payment token, making it easier for consumers to pay bills. For some consumers, such […]