Beiträge

Cash or no cash? Sweden is facing some difficulties with this discussion. Or rather the facts.

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bloombergFor some time the Nordic countries, specifically Sweden, have been known for being the first who want to scrap cash altogether at some point in the not so distant future. Perhaps they have gone too far? At least that is what Bloomberg reports – because there seem to be increasing challenges connected with it. After all, it is not so easy to replace a full blown eco-system with another one. Read the full report, which I find most worth reading, right here.

The Future of Payments: Which Game Changing Technologies Will Affect the Retail Industry

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payments journalWhile our industry – like any other – is facing massive disruption (or re-invention rather in most cases), some changes could lead to a dramatic shift in how things are being done. From a Consumer perspective mostly. The Payments Journal has written a summary and analysis of what is coming up, or better may be coming up, and identifies autonomous cars, augmented reality and AI so mention some. The underlying technologies being available, some being the same as for mobile payments – just that it does not happen on a phone. I find this a piece much worth reading. Find the whole article here. 

Bitcoin still struggles to be used as money

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For paymentssourcedigital-marketing agency Cooperatize.com, taking bitcoin for payment was easy enough, all co-founder Roger Wu had to do was obtain a digital wallet. To promote the move in 2014, he even penned a blog post for Forbes explaining the decision. A great read on PaymentSource.com – you should read the full article here.

Payment innovation requires merchant providers to be a Jack of all trades

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Michael Doron, Managing Director of North America at Payworks, wrote a great piece on why merchant providers need to gear up for the increasingly clustered payments industry. Great read at Paymentsource.com, which you find here.

Cash HAS a future, as it seems. Interesting research by Pymts.com

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Source: Cash Product Office

Source: Cash Product Office

Traveling the world I have seen that what many predict – the cash-less society – feels like it is very, very far away. A prime example for me is Sweden and the discussion that they possibly want to get rid of cash altogether within short. Not going to happen. When you are outside the bigger cities, hardly any small store likes you to pay by card. Mobile wallets are not to be found. It is the culture to have little markets and community cafés and when you try to pay your coffee and cinnamon bun with anything but cash they tell you where the next ATM is (in such cases usually some 30km away).

The more interesting I found this article by Pymnts.com, titled „With Millennials Picking Cash Over Cards, Cash Gains Steam“. Their research shows that while one would expect that older folks would use more cash, the exact opposite is the case. Worth mentioning is that the cash seems to be used mostly for small transactions while bigger ones are paid with cards – to keep the amount of change in your pocket in check. All this makes much sense to me – great read.