(source: en.wikipedia.org)
Two years in, India is seemingly undergoing “remonetization,” with cash usage growing 10.5 percent and returning to pre-demonetization levels. In fact, use of cash is expected to reach $2.45 trillion by 2021, up from $1.5 trillion in 2016. That said, the policy has helped digital...
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China’s central bank said Friday (July 13) that companies and individuals have to accept cash payments, but that the rule isn’t being applied to online payments or stores that aren’t operated by a person. Get the Full Story Complete the form to unlock this article and...
As a growing number of restaurants in Washington D.C. have decided to go cashless, some lawmakers have introduced a bill that would require retailers to accept cash. According to The Washington Post, the bill is in response to several cashless establishments popping up in the...
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More people in the U.K. are paying with debit cards over cash for the first time. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily...
Swedish lawmakers are trying to slow down the nation’s move toward going entirely cashless by forcing the country’s largest banks to offer cash withdrawals and handle daily receipts. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to...
In November 2016, the Indian government issued a ban on the nation’s higher denomination 500- and 1000-rupee notes, essentially deeming 86 percent of its currency invalid. But to date, India's demonetization policy has not achieved its goals. Hugo Erken and Wim Boonstra, senior economists at...
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