4 ways cash is being disrupted by digital

first_img 13SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr The push toward a cashless economy is already well underway in some parts of the world. India’s prime minister issued a ban on the largest currency notes late last year, for example. The result of that action was an 86 percent reduction in paper money.Other countries have embraced their own cash-free campaigns. Cork, Ireland, launched a three-month pilot project to become the country’s first cashless city. Likewise, Sweden, Belgium, Denmark and Norway are on their way to becoming less cash-centric nations.Cutting cash means consumers must find another way to pay. Digital payments quickly become a go-to option. The “Cork Cashes Out” initiative boosted digital payments by 522 percent. On the other hand, card transactions only saw a 17 percent lift.While cash in the U.S. isn’t going anywhere anytime soon, digital is shaking up the payments landscape. Below are a few ways cash payments are being disrupted by digital. continue reading »last_img

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