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...
India, China and their powerhouse Asia-Pacific neighbors boast a massive regional cash economy, with residents spending a total $5.6 trillion in cash in 2016. But with some of the region’s governments demonetizing high-value notes and encouraging the use of digital payments, cash is now seeing...
Despite the availability of new payment options, Canadian customers prefer to use cash to make small-ticket purchases like lottery tickets and tobacco products. Satinder Chera, president of the Canadian Convenience Store Association, Curt Binns, executive director of the ATM Industry Association and Tara McKeown, chief...
Not so fast with banning cash — that’s one of the messages coming out of the payments and food service world this month. Though variations of it have been heard for years, the newest iteration of the cash-is-dying idea provides a chance to see just...
In the U.S., cash isn’t just sticking around — at $2.3T in overall spend, it remains the most commonly used payment method among consumers. The latest Global Cash Index examines more than 240 data points to gauge the factors powering cash’s projected growth in the...
Despite the flurry of new payment options – mobile wallets, wire transfers and credit and debit cards, among others – cash is continuing to sit atop U.S. consumers’ wallets. Based on PYMNTS’ most recent research, the narrative that cash is dead or in decline is...
Despite predictions that cash is going the way of the dodo bird, a new study by the Bank for International Settlements found that notion is more bluster than reality. According to a report in Reuters citing the Bank for International Settlements, the study found that the...
Authorities in Sweden are starting to get worried about the speed in which cash is going away as a preferred payment method. According to a report in Bloomberg citing government officials, the Central Bank is starting a review of the current legislation and the speed...
When it comes to making payments, 90 percent of Mexico’s population prefers using cash over cards, and that’s a lesson eTailers like Amazon and Walmart are taking to heart. According to the latest Global Cash Index™: Mexico Edition, cold hard cash represents a 26.1 percent...
