Cashless Society

Survey Shows Shift Towards Cashless Society Driven By Millennials

09/02/2014 07:12
When it comes to making small purchases, Americans prefer cash over plastic, but according to a new survey that’s likely to change. “We are moving towards becoming a more cashless society,” said Creditcards.com Senior Industry Analyst Matt Schulz “Two-thirds of American card holders still use cash...

Norway Could Become Cashless By 2020

07/27/2014 20:50
A leading financial association in Norway recently suggested that the country could very well be on track to becoming cashless by the year 2020. The group noted that only about five percent of transactions conducted in the country are done so with cash, and suggests that eliminating paper money...

Britain becoming a cashless society

06/25/2014 10:19
Preference for debit and credit cards over cash when shopping is turning Britain into a cashless society. Research undertaken for thinkmoney has shown that just over one in 10 respondents (11 per cent) had no cash on them at all; this is almost double the number of people who said the same when...

State to go cashless from July to curb fraud

06/01/2014 09:10
The Government plans to curb fraud in ministries and State agencies through e-payments that kick-off on July 1. To prevent online fraud, the Government says it will roll out the Cyber Security Master Plan before end of June. Principal Secretary, Ministry of Information, Communication and Technology...

Israel Eyes Becoming a Cashless Society

05/26/2014 08:07
A special committee headed by Prime Minister Benjamin Netanyahu’s chief of staff, Harel Locker, has recommended a three-phase plan to all but do away with cash transactions in Israel. The motivation for examining a cash-less economy is combatting money laundering and other tax-evasion tactics,...

America on Course to Become a Cashless Society

05/21/2014 11:48
America is moving slowly but surely toward a cashless society as businesses are coming up with easier ways for people to pay electronically. The New York Times reports that banks and retailers are trying to develop new payment systems using cell phones, and they’re working on ways to protect...

Cashless society? Some of us already there

05/15/2014 07:57
Are we getting closer to the day when we stop using cash to pay for things? A new Bankrate.com poll finds 9 percent of us are already there. They don't regularly carry any cash on a daily basis. Even those who do walk around with cash don't carry much. The poll found 49 percent of us have $20 or...

Cashless Society? Are We Nearly There?

05/14/2014 21:03
Maybe the cards filling up consumers’ wallets are just making less room for cash, but nearly eight out of 10 (78 percent) U.S. consumers carry less than $50 with them at any one time, with 49 percent carrying $20 or less, new survey data show. By gender, women appear to be further along the road...

Shoppers ditch wallets for hand scanners

04/22/2014 07:11
FORGET carrying a wallet because all you could soon need is your hand to pay for goods. Advanced technology is being rolled out in Sweden that allows empty-handed consumers to purchase goods using a tap of their palm. Detection of a person’s unique vein structure allows the store to verify a...

Swedish city introduces payment by hand scanning

04/15/2014 20:28
Hand scanning has become an alternative payment method for people in a city in southern Sweden, researchers at Lund University said Monday. Vein scanning terminals have been installed in 15 shops and restaurants in Lund thanks to an engineering student who came up with the idea two years ago while...

Bitcoin Could Be A Good Threat To Central Banks

04/07/2014 07:28
Last week, St. Louis Fed Vice President and Director of Research David Andolfatto released a presentation on Bitcoin, becoming one of the most prominent central bank officials to study the cryptocurrency. We caught up with Andolfatto to ask him about why he put this deck together, where he thinks...

Israel Launches A Virtual Coin

03/29/2014 10:43
Backers offer to circumvent high banking fees A virtual currency called "Bitcoin" has become popular in the past few months. Traded digitally, it can be used instead of money. Today, the Bitcoin is trading at about $530.00. "Every time I go to buy something the person...

We're moving towards a cashless society

03/08/2014 09:30
We are living at a time of exciting technology change that is rapidly changing the way we interact and transact with people as individuals, customers and in business. We are already close to becoming a cashless society by the level and value of non-cash transactions (between 80 per cent to 95 per...

Bitcoin: What, Why, and How?

03/03/2014 18:00
If you’re wondering what Bitcoin is, you’re not alone. In fact, 46% of Americans aren’t sure what Bitcoin is (while another 6% think it might be an Xbox game), according to a 2013 Bloomberg poll. What is Bitcoin? Bitcoin /ˈbɪtkɔɪn/, n: a peer-to-peer payment system and digital...

Governments play a key role in cashless society

03/03/2014 10:24
Dubai: The key differentiator for electronic payments to gain traction is when the governments come in, a senior MasterCard official said yesterday during an interview with Gulf News. “The government decides the roadmap for cashless society. The biggest difference we made in Africa is when we...

Dethroning cash to make e-payments king

02/25/2014 20:50
Kenya: Recent developments in Kenya’s payments space are cause for excitement for us in the payments technology business. The impending increased adoption of cashless transactions heralds a new dawn for the economy. With the financial and retail sectors pushing strongly for the use of electronic...

Central Bank kicks off €1m campaign for cashless society

02/23/2014 07:26
 The Central Bank is launching a major national campaign to persuade consumers and businesses to stop using cash and cheques in favour of online transactions. Dame Street mandarins calculate that it would save the Irish economy €1bn a year to increase the use of electronic payments with debit...

Mastercard to help EAC to develop a cashless economy

02/16/2014 07:15
A Mastercard is working with national payment authorities in the East Africa Community (EAC) to encourage the adoption of a cashless economy, according to company’s Vice president and Area Head of East Africa. James Wainaina told the Independent East African News Agency (EANA) that electronic...

Cashless Ghana in sight

02/13/2014 07:05
Issuance of local cards for banking transactions is deepening across the country as the Ghana switch implementing body links all automated teller machines (ATMs) of universal banks and savings and loans companies. The Ghana Interbank Payments and Settlement (GhIPSS), which is implementing various...

Zimbabwe: Could it be Africa's first cashless economy?

01/23/2014 06:23
 Zimbabwean telecom tycoon (and the country's only billionaire) Strive Masiyiwa has been called a "global business influential," a "face of New Africa," and the "Bill Gates of Africa." He continues to live up to the reputation with a new venture that's as bold as they come. The founder and...
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