Alternatives to Sleepwalking (or Stampeding) into a Cashless Society
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CashMoney in physical form such as banknotes and coins. More is a hot topic! The Access to Cash Review last year featured across national headlines in the UK and highlighted the importance cash still holds in society despite the growth of cashless alternatives. Whether for reasons of privacy, of its usefulness as a budgeting tool or simply the inaccessibility of other alternatives, many people rely on cash now, and will do so for the foreseeable future.
In this White PaperSee Banknote paper. More, Dr Ian Hunt provides an analysis of the contrasting perspectives on cash. He also looks at how innovative digital solutions may provide the key to the future of cash. He concludes that “The business models behind current digital paymentA transfer of funds which discharges an obligation on the part of a payer vis-à-vis a payee. More solutions are generally incompatible with the societal needs currently served by physical cash. They eliminate some of the negative attributes of cash, but fail to retain the positive attributes of cash which lead to its enduring popularity.”
Dr Ian Hunt, author of the white paper, is a Non-Executive Director of Shrap, who will be participating in the CashTechThe expression was first coined by CashEssentials and is the encounter of cash and technology. It brings together innovative companies who leverage software and modern communications technology to improve cash services: access to cash; acceptance of cash; and the efficiency of the cash cycle for all stakeholders. More Forum at the forthcoming Future of Cash Conference.
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