Payments News

On The Web

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Systems

There are now more $100 bills than $1 bills in the world

“A funny thing happened on the way to a world of cryptocurrencies and mobile payments. Cash became more popular than ever. The main reason? The one hundred dollar bill. In 2017, for the first time ever, the one hundred dollar bill became the most popular US bill in circulation, beating out the one dollar bill. It is quite […]
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Systems

Pub stops taking cash payments ‘in UK first’

“A traditional pub in the Britain has stopped taking cash payments and is the first in the UK to do so, its landlord has claimed. The Boot in Freston, near Ipswich, no longer has tills and customers have to either pay by card or through their phone. Having been derelict for nine years, the 1530s pub was […]
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Global

Going Cashless: What Can We Learn from Sweden’s Experience?

“Sweden is regarded as the poster child of cashless countries and is expected to become the world’s first cashless society by March 2023. This means that cash will not be a generally accepted means of payment in Sweden. This journey has been powered by various factors such as a robust card payment system, strong internet […]
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Regulation

Should cashless retail stores be banned?

“If you own a retail store, should you be required to accept cash? That’s what lawmakers in New Jersey hoped to make you do. Until Amazon stepped in. The e-commerce giant, who just opened another of its cashless Amazon Go grocery stores in Chicago, has joined other big retailers like Walmart to force a delay in a bill […]
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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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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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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 […]

On The Wires

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