Cashless Society
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...
Philippine Government to Expand Cashless Purchases
01/16/2014 06:20
MANILA—President Benigno Aquino III on Wednesday unveiled a plan for the government to expand its cashless transactions to further plug leaks that provide opportunities for corruption.
Budget Secretary Florencio Abad said that during the pilot testing of the cashless purchase card system, the...
Cash will be obsolete in three years claims PayPal
12/18/2013 20:29
Purses, wallets and cash will become redundant within three years, according to the electronic payment firm PayPal.
It says it will be possible to pay for everyday purchases via mobile phone apps and cards with the result people will no longer need to carry real money.
The claims came as the firm,...
Swedes set for cashless future
12/08/2013 08:24
With only 27 percent of retail sales involving a cash transaction, Sweden is adapting to the prospect of cashless future, affecting all from bank-robbers to the homeless.
Peter, 55 years old and homeless, is standing at a Stockholm supermarket, carrying the two objects that help him make a living:...
Are we moving towards a cashless society - or simply less cash?
11/29/2013 18:58
There is mounting evidence that consumers are making less use of cash, while the use of electronic payment methods, particularly debit cards, continues to increase. But are we heading towards a cashless society?
The release in October 2013 of the Reserve Bank of Australia’s Payment Systems Board...
Cash Is Dead. Are Credit Cards Next?
11/26/2013 08:28
The future of money has arrived, and it’s called Coin.
It looks like a credit card. It’s the size of a credit card. It swipes in credit card machines. But it holds the information of up to eight of your debit, credit, rewards, or gift cards. And you can switch between cards by simply pressing a...
Cashless is the future. Small businesses must adapt or pay the price
11/16/2013 07:02
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Can you remember those rectangular pieces of paper we once scribbled on and used as currency? Cheques now seem laughably archaic don’t they? Well cash is on its own way into the history books too, and it’s being handed an obliging step by the myriad of mobile payment...
Should we ditch cash for good?
10/28/2013 07:28
It should be remembered that cash has some virtues that whatever replaces it should strive to match
In a cashless society, everything you buy, like it or not, could be on a permanent record, ready to be collated by marketers, hacked by criminals or monitored by an increasingly invasive...
Money2020 stirs up cashless society debate
10/13/2013 07:33
While much of the chatter at the Money2020 conference in Las Vegas centred on schemes to eliminate hard cash, former Citibanker Jay Bhattacharya took a contrarian approach, brandishing a newspaper clipping from 1972 that confidently forecast the arrival of a cashless society by the end of the...
Cashless policy begins in Nigeria
10/10/2013 07:09
The implementation of the cashless policy of the Central Bank of Nigeria (CBN) begins in the Federal Capital Territory (FCT) and five other states today.
The policy, which has been in operation in Lagos State, aims at reducing the amount of physical cash circulating in the economy and encouraging...
Mideast societies moving toward a cashless society
10/07/2013 07:09
KUWAIT: The societies in the Middle East are rapidly moving toward a cashless society. With regulators and banks supporting this shift, there is a need to educate consumers about the benefits of cashless payments for themselves and society as a whole, said Pankaj Kathuria, Area Head for Southern...
The Cashless Society - Is Hard Currency Ready to Cash its Chips?
10/03/2013 07:22
When it comes to the way you make your everyday purchases, change is most definitely afoot. Just last week the Bank of England announced plans to introduce plastic money - a move that some say doesn't just mark the end of paper notes, it is one more indication that we may soon see the end for cash...
Australia heading towards cashless economy
09/30/2013 19:16
Australia is in the world's top ten of economies that are migrating towards being cashless, with non-cash transactions now accounting for 86% of the total value of consumer payments, according to a new study by Mastercard.
The 'cashless journey' study looked at 33 economies across...
Saudi Arabia steadily moves toward cashless society
09/25/2013 07:15
MasterCard has unveiled a new global report “The Cashless Journey” that positions Saudi Arabia among those economies that have begun accelerating their move toward becoming a cashless society.
The report, produced by MasterCard Advisors, explores the evolution of consumer payment patterns in 33...
MasterCard Study Reveals the Rapidly Growing Cashless Economies
09/23/2013 07:29
MasterCard MA +0.26% today unveiled a new global report, "The Cashless Journey," that tracks how 33 major economies are progressing from cash-based to cashless societies. The report, produced by MasterCard Advisors, identifies new technologies, government programs and consumer preferences as key...
Will Israel be the World's First 'No Cash' Society?
09/21/2013 21:00
The government on Tuesday authorized establishment of a committee that will examine ways to eliminate cash from the Israeli economy – the better to prevent citizens from cheating on their taxes. The committee will be chaired by Harel Locker, director of the Prime Minister's Office.
Cash is easily...