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Old 12-05-2018, 08:06 AM   #81
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Quote :
... a small but growing crop of retailers have stopped accepting the tried-and-true paper currency.

Some restaurants in large cities began shunning the greenback a couple of years ago, but an increasing number of nonfood chains are going cashless at some or all of their locations or never took bills at the brick-and mortar stores they've opened in recent years.

They include clothing retailers such as Bonobos, Indochino, Everlane and Reformation; Amazon bookstores; Casper Mattress; Drybar hair styling; The Bar Method fitness studios; and United and Delta airlines (both at ticket counters and for in-flight food and drinks).

“The momentum started in the restaurant space, but we’re certainly seeing spillover,” says Jack Forestell, chief product officer for Visa.

Visa last year awarded $10,000 to each of 50 businesses that produced videos explaining how going cashless would benefit them.

More retail coverage: Black Friday, the shopping Super Bowl, kicks off holiday season

The trend is partly rooted in the growth of credit- and debit-card transactions and the spread of digital wallets such as Apple Pay and Google Pay. Cash isn’t dead, but it’s no longer king. Jerry Sheldon, vice president of IHL, a retail and hospitality consulting firm, foresees cashless restaurants and stores comprising 40 to 50 percent of all retailers within 10 to 15 years as greenback use continues to dwindle.


...
https://www.usatoday.com/story/money...sh/2063747002/
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Old 12-05-2018, 08:10 AM   #82
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...
New York City may soon force cashless restaurants and retailers to accept cash. Councilmember Ritchie Torres has proposed a bill that would forbid businesses from accepting only credit and debit cards. Torres is also calling for the Consumer Affairs Department to issue violations to merchants who do not accept cash.
...
Torres says the bill is now waiting to be heard by the Consumer Affairs Committee. He’s hoping to take up a vote and get it passed sometime in the coming year.

“Paper money is the universal currency,” said Torres. “I find it wrong that a business could reject legal tender that has the full faith and credit of the United States government. It should be accepted as a legitimate mode of payment at every business in New York City.”
https://pix11.com/2018/11/29/lawmake...nesses-in-nyc/
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Old 12-05-2018, 08:26 AM   #83
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And now a view from around the globe:

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Journalist Sthembiso Sithole chats to Riaan Graham sales director for Ruckus Networks in sub-Saharan Africa, about the state of cashless societies in Africa.

Sthembiso Sithole (SS): What is the current state of cashless societies in Africa?

Riaan Graham (RG): Africa’s quest for a cashless society is gaining momentum. Its lack of financial inclusion and the geographic distribution of the population has forced the continent to look at innovative solutions to banking and financial literacy. Mobile banking has also had a revolutionary impact on society - allowing people, even in rural areas, to transact money to one another, make purchases and even pay for key services like electricity and water. This cashless community is growing throughout Africa - with countries like Kenya and Rwanda spearheading the curve. While the table is set for South Africa to do the same, the uptake has been slower.
...
More: https://www.msn.com/en-za/news/other...ing/ar-BBQhE6r

Terrible propaganda piece telling dumb citizens not to keep a stash of cash at home:
Quote :
A recent survey found that one in ten Brits admits to hiding cash under their bed.

Despite the global movement to a more cashless society, technical glitches at banks and Visa may have made even more people believe they need some emergency cash stashed in the home. This thinking is reinforced with a survey conducted this year that showed 80% of people now keep some emergency cash at home, with 10% holding between £200 and £500 in cash, and 4% keeping even more.
...
https://news.yahoo.com/10-brits-stil...105542169.html

Bold part is some refreshing honesty from a politician:
Quote :
Putrajaya’s push for Malaysia to become a cashless society is partly to make it harder for corruption to take place, said Prime Minister Tun Dr Mahathir Mohamad.

He explained that cashless transactions entail data trails that can enable authorities to observe and detect the suspicious movement of money.
...
During the Asean Summit in Singapore last month, the PM already expressed interest in pursuing a cashless Malaysia, saying he was inspired by discussions with India Prime Minister Narendra Modi.
...
https://www.msn.com/en-my/news/natio...rlY?li=BBr8Hnu

Quote :
...
The Chinese market for mobile payment offers not only market opportunities for solution providers intending to operate within the domestic market but also learning points for global mobile payment solution providers. China is a unique case study that can showcase to the world that cashless societies are becoming increasingly possible. Already, 40% of Chinese users carry less than RMB100 (US$15) in cash and mobile payment has become common among Chinese citizens.
...
https://www.marketwatch.com/press-re...com-2018-12-04

Quote :
Sweden is heading towards becoming a completely cash-free society but the country is being urged to keep producing physical cash by financial authorities.

Half the nation's retailers are expected to completely reject cash by 2025.

Financial authorities in the country are lobbying for the continued production of notes and coins until the government fully understands the ramifications of going completely cash-free.
...
Sweden's central bank is experimenting with a central online currency, known as e-krona, to keep firm control of the money supply.

'When you are where we are, it would be wrong to sit back with our arms crossed, doing nothing, and then just take note of the fact that cash has disappeared,' said Stefan Ingves, governor of Sweden's central bank, known as the Riksbank.
...
Many businesses in the Scandinavian nation are now entirely cashless.

Bills and coins represent just 1 per cent of the economy, compared with 10 per cent in Europe and 8 per cent in the United States, according to a report in the Financial Post.

The revolution away from cash is startling among millenials and Gem z individuals as almost 95 per cent of their purchases are made via debit card or a smartphone app called Swish, a payment system set up by Sweden's biggest banks.
...
'We need to pause and think about whether this is good or bad, and not just sit back and let it happen,' said Mats Dillén, the head of a Swedish Parliament committee studying the matter.

'If cash disappears, that would be a big change, with major implications for society and the economy.'
...
https://www.dailymail.co.uk/sciencet...-CASHLESS.html
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Old 12-05-2018, 08:56 AM   #84
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because how can you not like a post that involves someone in Africa called -


Sthembiso Sithole
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