The U.S. is often characterized (chastised?) as not moving towards a cash-less environment fast enough. These comments are often made by providers of digital payment services, I’ve noticed. But in comparison to Japan, the U.S. is far ahead in its use of cash-less payments.
Read MoreHawkers face four kinds of barrier to adopting cashless payments; government initiatives should focus on targeting a few, say two SUSS observers. SINGAPORE: Cash may be king in the past but if Singapore aims to be a leading digital economy, there is no running away from going cashless, whether we like it or not.
Read MoreToday, only 41 percent of Americans regularly carry cash, creating a demand for alternative payment methods and unlocking a world of potential for innovation in Fintech.
Read MoreOur own habits show how far the cashless economy has shifted from speculation to reality. Illustration: Matt Golding Credit: Sydney train commuters now board via their bank cards, meat pies are bought on debit from hundreds of school canteens, tap-and-go 3 Wiggles car rides litter suburban shopping centres.
Read MoreIn Australia there’s something of a ‘payments war’ going on and it’s taking a toll on Australian startups. Research from F5 Networks suggests that Australians are being more cautious about new payment technologies, with many sticking to the cash economy. Why? Because cash is more secure.
Read MoreJapan Post Co. plans to accept cashless payments for postcards and parcel deliveries at its post offices by early 2020. Currently, customers can purchase postcards and pay parcel delivery fees at post offices with only cash or stamps, while post offices in many other countries offer cashless settlement services.
Read MoreMUFG Bank looks to shrink its Japanese ATM network by 20% through fiscal 2023 as online sales and cashless payments reduce the need for personal banking services such as cash withdrawals.The Mitsubishi UFJ Financial Group unit operates 8,141 ATMs nationwide, and intends to cut this number to around 6,700.
Read MoreThere’s no shortage of fintech news, and crypto news in particular practically bumps into you in the hallway. Every week, our finance technology email will sort through the useful and the useless in fintech news and deliver it right to your inbox on Fridays. Sign up here.
Read MoreMastercard is pushing for a bigger uptake of cashless payments, but the company reassured consumers it has massive contingency plans for IT failures like those that blocked millions of transactions at rival Visa.
Read MoreRetailers and restaurants are cautiously moving toward fully cashless operations. Cards and apps are replacing bills and coin. While futurists and science fiction writers have been predicting a cashless future for generations, consumer-driven businesses are following the lead of a much more influential group of thinkers—their customers.
Read MoreEarnest efforts are underway in both the public and private sectors to promote cashless payments ahead of the 2020 Olympics.Credit cards, electronic money and other cashless systems account for 20 percent of all consumer payments in Japan, compared with 40 percent to 60 percent in the United States, European countries and China.
Read MoreThe concept of a cashless society is one of those things you hear about every so often, especially in Europe. Sometimes it crosses into other, unexpected areas, and even the United States will talk about it every so often.
Read More
