News 

DC Council doesn’t help anyone by targeting cashless restaurants to make a point

“A new bill introduced by D.C. Council member David Grosso targets cashless restaurants in Washington” writes Creative Commons Photo for washingtonexaminer.com. Lack of access to banking is, of course, a problem, but targeting cashless restaurants doesn’t solve that problem.In D.C., businesses like Sweetgreen, Jettie’s and JRINK already have cashless operations.Even if city council doesn’t like it, cashless transactions are the wave of the future. Source: washingtonexaminer.com Share This:

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News Stocks 

These 7 stocks could profit handsomely from a cashless future

“For investors who want to play this trend, here are seven mobile payments stocks to consider” writes Jeff Reeves for marketwatch.com. And most importantly, PayPal is focused on the cashless future without the baggage of a legacy banking operation.An oldie but a goodie in the mobile payments game, PayPal PYPL, +0.02% is in many ways at the forefront of cashless transactions in the 21st century. Source: marketwatch.com Share This:

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London’s street performers are embracing cashless payments

“From that base, iZettle has expanded into other financial services for small businesses, which include inventory management loans and more” writes Jon Russell for techcrunch.com. The deal is perhaps the most visible piece of business from iZettle, which has quietly made a mark in helping UK payments go digital. iZettle will be PayPal’s largest acquisition to date. Source: techcrunch.com Share This:

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EXCLUSIVE: More than one in 3 Brits are ready to stop using cash in the future

“Three out of 10 respondents replied “maybe” when asked the question “Can you envisage yourself ever using exclusively cashless modes of payment in the future?”” writes Finanzen Net Gmbh for businessinsider.com. Only 22% of those over 55 envision ever going cash free in the future.Geographically, people in London are the most likely to be ready to go cash free, with half of the capital’s population willing to ditch physical money in the future. At the other end of the spectrum, residents of the Midlands are the least likely to leave…

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This small firm stopped accepting cash — and it’s been ‘great for business’

“Ross Brown stopped accepting cash at his London cafe more than one year ago” writes Elizabeth Schulze for cnbc.com. Browns of Brockley, southeast London, is among a growing number of small businesses in the U.K. that are ditching cash.Brown said the decision to go cashless has made business at his coffee shop, Browns of Brockley faster, and safer. Debit cards are forecast to overtake cash payments for the first time ever across the country this year, according to trade association U.K. Finance.”We found that the time it takes to count…

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Going Cashless: My Journey into the Future

“Old habits die hard, and humans have been using cash, in one form or another, for roughly 7,000 years” writes David Gelles for nytimes.com. And some studies show that using credit cards encourages people to spend more than they otherwise would.Grocery shopping was similarly easy, our kitchen restocked using a mix of Amazon.com, Fresh Direct and trips to my local market, where I paid with a credit card.I paid for my morning coffee using the Starbucks app on my iPhone, picked up lunches with a credit card and ordered-in the…

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More consumers are utilizing mobile ordering options

“Ultimately, if more businesses decide to go cashless, or implement mobile ordering options, firms will need to offer solutions so that consumers can adapt to new ordering options and payment methods” writes Rachel Green for businessinsider.com. Although mobile order-ahead saw an impressive uptick, 2 in 5 restaurant visits were still paid for in cash in 2017. Source: businessinsider.com Share This:

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Crypto News 

Bitcoin can’t provide the answer to a cashless society, top central bank policymakers say

“That, it said, could create a different problem where central banks would hold unprecedented amounts of information about individuals” writes David Reid for cnbc.com. Cash is the only current way in which a person on the street can access money that is backed by a central bank.Bitcoin and other cryptocurrencies cannot provide the answer for any society that uses less and less cash in everyday transactions, two leading European policymakers said.The opinion piece does concede that with non-cash payments on the rise, an electronic solution of some form may be…

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Swedish Central Bank Doesn’t Want the Country…

“In fact, the Swedish central bank thinks it is necessary to have access to cash at all times” writes Jp Buntinx for livebitcoinnews.com. Sweden, a country where cashless has become the new normal, may soon get rid of notes and coins altogether.For now, the cashless trend needs to be curbed in Sweden soon.Others, such as the Swedish Central Bank, are concerned over this development.The bank is mainly concerned over the cars, vaults, and other tools designed to store large amounts of money. Source: livebitcoinnews.com Share This:

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Rise of the digital piggy bank as children as young as three join the cashless society with budgeting apps

“Children as young as three are joining the cashless society with parents replacing traditional pocket money with digital piggy banks” writes Wil Crisp for telegraph.co.uk. There was a time when children would look forward to the jangle of coins in their mother’s purse or father’s wallet, signalling the imminent distribution of their weekly pocket money.But today they are just as likely to check their mobile phone apps for the transfer of cash to their bank accounts.The app allows parents to set up regular transfers of pocket money to children as…

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