The People’s Bank of China (PBOC) is looking to close the widening digital divide and has warned merchants that they must accept cash or face disciplinary action, Reuters reported on Tuesday (Dec. 15). Most businesses in China have gone digital and some have stopped taking...
Nonfinancial corporations are sitting on a record amount of cash assets, hitting a record $2.1 trillion at the end of June, up 30 percent over 2019, The Wall Street Journal reported on Friday (Dec. 4), citing a Moody’s report. AT&T and Delta Air Lines were...
While its imminent death has been long forecast, cash just keeps on living to pay another day. Cash may not be king in the U.S. market anymore, but reports of its demise have often proved to be a bit premature. U.S. consumers’ cash use has...
Global FinTech-as-a-Service (FaaS) unicorn Rapyd is partnering with InComm Payments to support consumers who still prefer to use cash, the companies said in a joint statement on Thursday (Oct. 15). Cash is still a major player in the digital economy in the U.S., last year...
Amid the great digital shift, there are still pockets of commerce — and even entire countries — where cash is king. As detailed by NPR, though at least some verticals, such as grocery stores, accept card transactions (and thus see at some volume of contactless payments), a...
Depending on where you look, cash may still be king. It’s no secret that the pandemic has been forcing consumers to embrace all things digital. That includes paying for everything from clothes to restaurant deliveries through online and card-not-present transactions. But in an interview with PYMNTS,...
The Consumer Choice in Payment Coalition (CCPC), made up of numerous businesses and consumer representatives, aims to protect the use of cash against the encroaching tide of digital pay. The Coalition will first be pushing HR 2650, or the Payment Choice Act of 2019. That...
The stock market’s plummeting numbers have caused some banks to run out of large bill denominations as customers flock to take as much out of their accounts as possible, The New York Times reported. One such example is in New York City at the Bank...
The Egyptian government is investigating the possibility of a feasible transition to a limited, new cash payment system that would replace the ration cards on which tens of millions of the country’s neediest residents currently rely for basic human needs, according to Bloomberg. Government officials...
