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Why The Idea Of A 'Cashless Society' Is So Dangerous
The idea of a cashless society is not a new one. The widespread use of debit cards and recent explosion of digital payment options have given the average person little reason to touch cash. And the launch of innovative cash-free (and cashier-free) stores like Amazon Go make it seem as though we’re headed for a truly cashless environment soon.
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In Germany, cash still rules
Although Germany has taken many health and safety precautions in light of the coronavirus, when it comes to payments, Germans still prefer cash rather than contactless or touchless options. Claims that contactless card payments are on the rise — with almost a third of all card payments made this way since the outbreak of COVID-19 — but cash still makes up 75% of Germany's transactions.
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Cash, Credit & Covid
One of the first casualties of the Covid pandemic appeared to be cash. Early fears of widespread viral transmission via cash and other surfaces were flamed by media outlets everywhere. Consumers were urged to spurn cash in favor of credit & debit for public safety reasons. The card brands were thrilled to dust off their old talking points about the merchant expense and inconvenience of handling cash.
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Celebrating the Industry Response to Keeping Access to Cash Safe During COVID-19 Crisis
This month's WCW Pro-Cash Newsletter featured article is from ATMIA.
ATMIA has released a slideshow celebrating the steps taken by the industry to raise awareness of cash access and safety throughout the COVID-19 crisis. The slideshow highlights some of the champions who keep frontline services going during the pandemic.
The slideshow highlights a wide range of activities which manufacturers, ATM deployers and others have taken, including a helpful graphic provided by James Shepherd-Barron, son of the inventor of the ATM and graphics supplied by Grant Victor Companies. Actions featured range from good deeds in support of first responders, blog posts and factual messages to help promote cash and ATM safety, as well as the introduction of industry sanitizing
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The Outlook for Cash in South Africa for 2020
Among the metal shacks and narrow side streets of South Africa’s townships, one of the country’s biggest lenders sees a sizeable market it wants to be first to crack; multi-million-rand businesses operating largely in cash.
Many of South Africa’s top Economists have predicted that the demand for cash in the country is expected to grow in the coming years. They noted that the size of the parallel, or informal economy, is a significant determinant on the demand for cash.
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The comfort of cash in a time of coronavirus
At Sunshine Ace in Naples, Fla., signs have been put up to encourage contact-less payments during the coronavirus crisis. Employees at the chain of hardware stores constantly wipe down the touch pads of debit card readers, and at each checkout counter the chain has installed plexiglass shields. When Michael Wynn, Sunshine’s third-generation owner, checked his books for June, payments in cash had dropped slightly since the start of the pandemic. It looked like another sign of the steady demise of cash.
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The cost of payment
We’ve read the news and seen the proclamations of a cashless society being thrust upon us because of the global pandemic. And part of this narrative at least is correct, cashless has been thrust upon us.
The war on cash has been going on for many years and the pandemic has opened up a new battleground for those pushing towards a world powered exclusively by electronic payments of one form or another. I am a firm believer in payment choice, for both retailers and consumers.
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ATMIA Cash Deposit Questionnaire
As part of the ATMIA Cash Revival Plan, we are working to make deposit universally available at ATMs.
A reduction in bank branches and bank ATMs in recent years is creating issues for members of the public and for small business in their handling of cash, and therefore in its use as a chosen method of payment.
Can you please complete this questionnaire in as much detail as possible to help us target our advocacy in the most appropriate manner. The deadline to complete the survey is 11 September 2020.
Just for completing the survey, you will be entered to win one of two prizes! A free year of membership and a free conference pass to a 2020 ATMIA conference of your choice will be awarded once we receive 50 or more survey responses! See details at the end of the survey.
TAKE THE SURVEY HERE...
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Celebrate Cash News with Withdraw Cash Wednesday
Cash globally remains the most widely used and popular form of payment today. ATMIA’s goal with the Withdraw Cash Wednesday initiative is to communicate as an industry the many benefits of cash, while combating the negative press cash has received over the last few years to ensure consumers have cash as a payment choice for years to come. This monthly newsletter is geared towards sharing positive cash news reaching more than 13,000 ATM industry readers per month.
Don't miss our last four newsletters:
View all past Pro Cash Newsletters here.
Follow Withdraw Cash Wednesday on Twitter and share our posts. You can even share your own personal cash story. Please share Withdraw Cash Wednesday news with customers, friends and family to promote cash usage!
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Promote positive spending habits and easily accessible cash for consumers​
Purchase Withdraw Cash Wednesday decals, posters, wraps and more from GetBranded.com here.
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If you're interested in sponsoring the WCW Pro-Cash Monthly Newsletter and reaching over 13,000 emails, please contact Claire Feterl by email or at 605.274.0277.
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