Note from the CEO: We all know that most American’s (or people worldwide) WANT to go cashless (it is cool and hip) but are not sure how to go about it. The article mentions bank debit cards are already widely used but tied to financial institutions. Cryptocurrencies are still not well understood and people still like the feel of cash in their hands. Hmmmmm! What we do sometimes does not match what we say.
"More than half of Americans still like to have cash on them at all times but 62% expect the US to become a cashless society in their lifetimes, according to a Gallup survey.
Of just over 1000 people surveyed, 62% think that it is likely or very likely that the rise of electronic payments will lead to a cashless society within their lifetimes. The view has solid majorities in all age groups, including 58% of those 65 and older and 63% of 18 to 29 year-olds.
However, 54% of respondents still say they like to have cash on them at all times, although there is a clear age divide. While 56% of 18 to 29 year-olds are comfortable not having cash, just 32% of those 65 and older are."
Read Full Article at Fintextra