Credit Entices, But Cash Still Packs A Punch
It may no longer be the case that cash is king on a global stage but, in some markets (particularly developing markets, like India), it’s still doing quite well — as consumers are spending trillions of dollars’ worth of it a year. Digital is making inroads but, as Fiserv noted, if brands (particularly credit card brands) want to move consumers out of the cash and even debit orbit, they need to start thinking outside the box when it comes to rewards. And, according to ICBA, they also need to start thinking more about the consumers’ evolving needs. It’s not easy, but, as BlueVine noted, it is a market that is evolving toward digital services and online providers, which is a significant leg up in the global push to digitize financial services.
