Tag: Cashless Society

UAE ‘very close’ to becoming a cashless society

Dubai could see $2.2bn uptick in the economy by adopting more cashless facilities, say experts. The UAE is moving ever closer to becoming a cashless society, attendees at the Success 2020 Arabian Business forum were told. Multiple government initiatives in the UAE have led to a sharp increase in digital transactions. “There’s a lot of […]

Benefits of cashless payments outweigh alternatives

The Central Bank Nigeria (CBN) has revisited the cashless policy it floated about seven years ago, but this time, with a resolve to ensure compliance with the imposition of subtle charges for die-hard cash transaction apologists, reports, SIMEON EBULU. It’s almost four weeks now that the Central Bank of Nigeria (CBN) rolled its sleeves to […]

Cashless society: 85 per cent of Canadians don’t pay with cash regularly

As we continue to move in the direction of becoming a cashless society, consumers and businesses are starting to make adjustments so they can adapt. Eighty-five per cent of Canadian consumers are now paying with either debit or credit on a regular basis. “It’s definitely a lot more tap and a lot more Apple pay, […]

Monopoly doesn’t use cash anymore

In a world of digital payments, parents need to be deliberate in teaching their kids about money   Hasbro announced Wednesday it will release a version of the classic board game Monopoly designed for the digital age. But financial experts argue the game’s new design could deprive children of important financial lessons. In Hasbro’s HAS, […]

Rise in cashless payments stokes concerns over data security

When bitcoin faithful began preaching the virtues of anonymous currencies, the pitch sounded familiar. “I thought, ‘Haven’t we got that already?’” said Kirsten Thompson, a partner at Dentons and national lead of the firm’s transformative technologies and data strategy group. “Cash, not bitcoin, was the original anonymous currency and we lose something by getting rid […]

Apple Card—No Plastic Required

Every purchase needs a fingerprint or face-identification confirmation. Apple is partnering with Goldman Sachs to make its own credit card due out this summer — no plastic required. Apple Card will be available on all iOS devices in the Wallet app. It has a rewards system that adds 2% of any Apple Pay purchase amount […]

Egypt’s New Capital to Be First ‘Cashless’ City in the Country

As part of the country’s efforts to support financial inclusion, Egypt is planning to make the New Administrative Capital the first cashless city in the country, according to the State Information Service. Minister of Communications and Information Technology Amr Talaat met with the vice chairman and president of strategic growth at Mastercard, Michael Froman, to set […]

New Jersey Lawmakers Pass Bill To Protect Cash-Paying Consumers

New Jersey legislators last week passed a bill with overwhelming support to prevent businesses from banning consumers from using cash for purchases. The bill, which now goes to Gov. Phil Murphy for his signature, would make New Jersey only the second state to protect cash-using customers in stores. The proposed law, A591, applies only to […]

Australia to be cashless, cards obsolete: MasterCard global exec

The president of technology for payments giant Mastercard has tipped that Australia will be a cashless economy within the next five to 10 years as wearable technology takes over. Speaking to The Australian Financial Review Mastercard’s president of operations and technology, Rob Reeg, said the idea of a physical card would also become obsolete in […]

Secret Meeting in London to “End Cash” in America and Europe

Armstrong revealed that representatives from the Federal Reserve, the ECB as well as participants from the Swiss and Danish central banks would all be attending a “major conference in London” at which Kenneth Rogoff of Harvard University, and Willem Buiter, the Chief Economist at Citigroup, would give presentations.   “We better keep one eye open […]