Payments News

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Global

China Wants Its Rural Villages to Go Cashless by 2020

“Residents of even the tiniest far-flung villages in China may soon be able to pay on their phones to run daily errands as Beijing announced this month that it aims to make mobile payments ubiquitous in rural areas by the end of 2020. The plan arrived in a set of guidelines (document link in Chinese) jointly published by […]
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Regulation

Legalising Cannabis Reduced the Use of Cash in Canada

“The movements in cash in circulation around the time of cannabis legalisation would seem to provide early evidence to suggest that Canadian Prime Minister Trudeau’s policy has already been successful in crimping the black economy. The fall in currency in circulation of C$1.2 billion in October was broadly in line with Statistics Canada’s estimate of […]
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Systems

Smartphone-Wielding Chinese Tourists Challenge Cash’s Reign

“Japan, usually a high-tech model for China, is learning from its neighbor how people can pay without cash. Old-time paper money has reigned supreme in Japan, but that is beginning to change, thanks to a flood of Chinese tourists who expect to pay with a phone like they do back home. To spur adoption, Japanese internet companies are tying […]
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Systems

UK’s Cash Payments System Could Collapse in Two Years

“Companies which circulate, sort and distribute coins and notes say the rapid trend towards digital payments will soon render their businesses unprofitable, sources told the Daily Telegraph. At present just over a third of payments made in the UK are cash but this is set to plunge in the coming years. It is understood that most businesses involved […]
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Regulation

NJ Governor Signs Ban on Cashless Retail

“New Jersey Gov. Phil Murphy signed legislation that requires retailers and restaurants to accept cash, effectively banning merchants in the state from joining a cashless trend emerging in markets across the U.S.”
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Systems

Philadelphia Is First U.S. City to Ban Cashless Stores

“Starting in July, Philadelphia’s new law will require most retail stores to accept cash. A New York City councilman is pushing similar legislation there, and New Jersey’s legislature recently passed a bill banning cashless stores statewide. A spokesman for New Jersey Gov. Phil Murphy, a Democrat, declined to comment on whether he would sign it. […]
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Systems

Japan Launches Cashless Week Campaign for Golden Week Holiday

“Japan will run a campaign across the 10 days called The Cashless Week, run jointly by the industry ministry and the Payments Japan Association, which consists of companies and municipalities. The initiative, announced on Wednesday 13 March by the industry ministry, will involve businesses offering reward points and coupons to those who choose cashless payment […]

On The Wires

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Systems

Lloyds announces new cashback incentive scheme

“The cashback incentive will target areas of the UK where access to cash has been identified as being more difficult, such as rural or less-affluent areas which often rely on a very small number of ATMs. It’s hoped that the initiative will also give customers more reasons to visit local shops at a time of unprecedented […]