London, United Kingdom & Sioux Falls, SD, USA - In the aftermath of Visa Inc’s contentious current “cashless campaign”, ATMIA has published a position paper entitled “Cash is good for society”. In the new paper, the not-for-profit global trade association looks beyond the war of words waged against cash to the real, underlying role of cash in today’s society.
A movement is slowly making its way across America, creeping into businesses and banks, and creating a domino-effect on consumers and savers. It’s a growing campaign to stop spenders from using good old-fashioned cash. But what could result in big gains for credit card companies and banks has the potential to translate into massive buyer inconvenience, loss of freedom and personal expense.
People want to use cash. People want to make purchases in the way that suits them—not in the way that’s best for the credit card companies bottom lines.
So, what gives? Here’s a snapshot of what’s been happening, and why it just doesn’t make sense.
While there are countless ways to improve your finances, cash remains king. Despite a plethora of digital payment options, 40 percent of Americans still prefer to use paper money for their purchasing, while 85 percent of all purchase transactions around the world are—you guessed it—done in cash.
Take control of your money and improve your life.
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