Payments News

On The Web

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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 […]
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Global

China central bank urges wider acceptance of cash as payments go digital

“China’s central bank has called for wider acceptance of cash in economic activities and vowed to punish those who refuse to accept cash payments in the wake of a widening gap in access to digital services. China’s online payments via barcodes and third-party payment apps such as Ant Group’s Alipay and Tencent Holdings’ Tenpay have […]
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Systems

Coin shortage persists ahead of holiday shopping rush

“Coins have been creeping back into circulation after a shortage earlier in the year — brought on by the coronavirus pandemic — left banks and retailers scrambling to make change for customers. But while the situation is improving, some members of a federal task force that assembled this summer to get coins back into empty […]
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On The Wires

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Systems

Paysafe launches Paysafecash™ in US to enable online cash payments

“Paysafe , a leading integrated payments platform, today announced the U.S. launch of Paysafecash™, an alternative payment method for consumers who want to pay online easily and safely using cash. The U.S. eCash solution is powered by the Vanilla Direct™ payment network of InComm Payments , a leading global payments technology company.”