Showing posts with label the future of cash. Show all posts
Showing posts with label the future of cash. Show all posts

Friday, 24 February 2012

Cash will remain king......or will it?

According to an article just published by KAL Software: "Every time a new way of paying for something has arrived – credit and debit cards, internet payments, contactless cards,mobile phone payments – the imminent death of cash has been announced. It sounds a reasonable prediction to make given the convenience of these new methods."  Written by Peter Jones, the article maintains that cash remains well used in a mixed economy of competing payment methods.  It seems that people get 70% of their cash from ATMs, which reduce the cost to banks of dispensing cash by 80%, and can also be used to cut costs further.  I can't argue with that.