Is cash still king?

With the proliferation of cashless payments around the world, some economies are still favouring cash over other payment methods
by Jill Insley and Bethan Rees

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Who needs cash anymore? You can now pay for your morning latte by using apps on your mobile phone or waving your contactless debit or credit card over the payment point. You can order your new sofa online by typing in your credit or debit card details, paying through PayPal or making a direct payment from your bank account.

In the UK, the number of debit card payments exceeded those made with cash for the first time in 2017, and in Sweden ’no cash accepted’ signs are seen in some shops and restaurants – it is considered to be the most cashless society in the world as it steams ahead to digitise payments. 
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Published: 29 Nov 2018
Categories:
  • Operations
  • The Review
  • Features
Tags:
  • featured
  • Banking
  • India
  • contactless
  • Nigeria
  • Germany
  • card payments
  • cash
  • Bank of England

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