Payments News

On The Web

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Global

Cash is still king for Indians: Study

“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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Global

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

“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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Regulation

Measure to ban cashless stores advances in New Jersey

“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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Systems

Who Wins When Cash Is No Longer King?

“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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Systems

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

“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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Risk & Fraud

Glowing reviews tout counterfeit cash on the dark web

“An analysis by Secret Service experts linked the fraudulent bills to thousands of others that had been passed with a total face value of $4.1 million. That made Billmaker the nation’s most prolific domestic counterfeiter. Britsch’s buy sparked a nine-month investigation into the murkiest corners of the dark web, where cyber-savvy criminals use online bazaars to anonymously […]
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Systems

More Americans are making no weekly purchases with 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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Reports

UK CONTACTLESS PAYMENTS OVERTAKES CASH FOR FIRST TIME

“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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