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In The News

In The News

May 16 - A cashless society and the five forms of mobile payment that will get us there

Article: Technology For A Global Monetary System

Visions of a cashless society started being portrayed from the 1950�s along with other aspects of a future waiting to be transformed by technology. That future has not yet arrived but it is now possible to exist without using cash on a daily basis. In fact, in a survey released this week, 25% of Australians claim not to use cash in a given month. In the US, 50% of Americans carry less than $20 in cash at any time.

Society�s move away from cash has been accelerating since the late 2000�s when contactless payments were introduced for transactions under $100. The convenience and speed of this type of payment has been a boon for cashless payment and the availability of �tap and pay� on mobile phones was set to drive this transition even faster.

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