Tag: Global Economy

The End of Physical Currency Coming in 2017?

The days of physical currency could be numbered, suggests new data from Bank of America (NYSE: BAC). A survey conducted by the North Carolina-based financial institution showed many people think children under the age of 10 won’t use most types of physical currency—cash, checks or credit cards—in their customary form. Seventy-one percent believe the age […]

Cashless society: How will going cash free affect students, charities and businesses?

Low-income workers, charities and small business owners are set to feel the biggest impact from Australia’s shift towards becoming completely cash free. Experts argue Australia could be completely cash free by 2020, accelerated by new technology that will be introduced by the Reserve Bank of Australia later this year. The RBA’s New Payment Platform (NPP) […]

ATM use hits 15-year-low as shift to cashless society gathers momentum

ATM withdrawals have slumped to their lowest levels in 15 years and the number of Australians taking cash out during debit card transactions is falling at the fastest annual rate on record. The new figures provide an insight into the wider shift towards a cashless economy, as electronic payments such as Paypass transform habits and consumers shy away from ATM withdrawal […]

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 […]

EU Steps Up The Pace For Cashless Society In 2017/18

On the 23rd January 2017 the EU Commission issued the “Commission Initiative Roadmap” for 2018 regarding the step up fight against the financing of terrorism, also known as its ‘Payments Restriction Initiative’ or as we are reading more often, the cashless society. This document is an extension of  the communication document dated February 2016 (COM-2016/50) […]

Global economy is booming but the global elites in Davos are not celebrating

As the wave of capitalist populism led by Donald Trump sweeps through a world brimming with economic optimism, elite globalist politicians, CEOs and bankers are chilling in the Swiss Alps – but are in no mood to celebrate, analysts say. With stock markets booming, oil prices on the rise again and the risks of a […]

The rise of the cashless city: ‘There is this real danger of exclusion’

Scrolling through my online bank statements at Christmas, I was surprised to find I had not removed cash from an ATM for well over four months. Thanks to the ubiquity of electronic payment systems, it has become increasingly easy to glide around London to a chorus of approving bleeps. As more shops and transport networks […]

Prophetic Fulfillments of 2015 Part 1

Prophesied Events before the Second Coming By Rick Brinegar   In the year 2015, many important steps were taken toward the fulfillment of several major prophecies given for the times just ahead. Here are several events that are prophesied to occur just before the Second Coming of Jesus Christ:   A global economy will be […]

More vending machines are going cashless

This story was delivered to BI Intelligence “Payments Briefing” subscribers. To learn more and subscribe, please click here.   Vending machine provider American Food & Vending announced plans to partner with payments technology firm PayRange to enable contactless payments on vending machines in US markets following two pilot programs that exceeded expectations.   In order […]

Payments Ecosystem – Data & Business Potential

The modern smartphone is a remarkable device. A single device that fits in your pocket can do all the tasks that once required cameras, camcorders, GPS devices, watches, alarm clocks, calculators, and even TVs.   But the next change might be the most radical of all—it could eliminate the need to carry cash and credit […]