PaymentsJournal
No Result
View All Result
SIGN UP
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
PaymentsJournal
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
No Result
View All Result
PaymentsJournal
No Result
View All Result

Cash Is King… Only in Some Places

By Jordan Hirschfield
April 15, 2022
in Analysts Coverage, Cash, Debit, Digital Payments, Emerging Payments
0
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Cash Is King... Only in Some Places

Cash Is King... Only in Some Places

Current society is moving more and more towards digital and card-based payment. However, there is continued benefit to traditional cash payments that are difficult to replicate. University of Virginia professor Lana Swartz writes in the MIT Technology Review:

Cash is the best transactional tool for increasing community and individual autonomy that we have invented so far. It offers many affordances that prove hard to replicate. Cash does not need someone else’s signature to spend. It does not specify where you can spend it, or on what. It is anonymous: no one needs to know who you are for you to spend it. It generates no data about your transaction for third parties. It transacts without fees for the payer or the payee. You know how much you have on hand: it cannot be frozen in your account by an opaque third-party payment processor on a whim, or reversed by a scammer, or eaten away by fees until you tip into overdraft without realizing it. It does not rely on many layers of brittle infrastructure of both hardware and software in order to operate at the point of sale.

Although there have been historical issues with paper currency, there are key areas where cash continues to thrive, including serving underrepresented communities. Those communities may end up operating on different levels due to lack of access to modern payment options:

The future of transactional media might look something like its past. An industry consultant once told me that “in the future cash will be the ‘c word,’ not something nice people use.” Indeed, the future is likely to be cash-light rather than fully cashless. Those relegated to cash-only status will transact on unequal terms.

A potential scenario is a payments spectrum with cash on one extreme and cryptocurrency on the other. The remainder will continue to be filled in greater volumes with card and digital payments.

Overview by Jordan Hirschfield, Director of Research at Mercator Advisory Group

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Tags: Card Paymentcard paymentsCashCashlessConsumer BehaviorcryptoCryptocurrenciesCryptocurrencyDigital Payments

    Get the Latest News and Insights Delivered Daily

    Subscribe to the PaymentsJournal Newsletter for exclusive insight and data from Javelin Strategy & Research analysts and industry professionals.

    Must Reads

    Proof That Fintechs Are Disrupting Banks:

    In Today’s Fintech Market, Value Is Everything

    August 30, 2024
    DFAST test

    Dodd-Frank Stress Tests: Good News for Now, Watch for a Rugged 2025

    August 29, 2024
    Real-Time Payments Adoption in the U.S. Requires a Pragmatic Approach, ISO 20022 messaging challenges

    ISO 20022 Brings the Challenge of Standardization to Swift Participants

    August 28, 2024
    open banking small banks credit unions

    Open Banking Can Be an Equalizer for Small Banks and Credit Unions

    August 27, 2024
    Payments 3.0

    Achieving Seamless and Holistic Transactions with Payments 3.0

    August 26, 2024
    embedded finance, ecommerce, consumers reduce spending

    Quality Over Quantity: Key Priorities in the Payment Experience

    August 23, 2024
    bots fraud

    Next-Generation Bots Pose Formidable Fraud Challenge

    August 22, 2024
    crypto custodians

    Crypto Custodians Could Bring a Revolution in Holding Assets

    August 21, 2024

    Linkedin-in X-twitter
    • Commercial
    • Credit
    • Digital Assets & Crypto
    • Debit
    • Digital Banking
    Menu
    • Commercial
    • Credit
    • Digital Assets & Crypto
    • Debit
    • Digital Banking
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    Menu
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter
    Menu
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter

    ©2024 PaymentsJournal.com |  Terms of Use | Privacy Policy

    • Commercial Payments
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    No Result
    View All Result