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Cash and Crises
European Central Bank slams Italian Policy to Promote Digital Payments
December 22, 2020
The Italia Cashless initiative offers shoppers refunds on purchases made by cards as part on an ongoing campaign to discourage tax evasion. The ECB has complained that the programme is disproportionate and undermines the neutral approach to payments. It also creates a distortion within the European internal market.
China is Sentencing Criminals to a Cash-only World
November 20, 2020
With digital payments thriving in China, so is payment-related crime. The authorities are punishing offenders by banning them from using mobile and card payments and stranding them in a cash-only world.
Card Schemes see Revenues Drop During the Pandemic
October 30, 2020
The pandemic has boosted revenue for many players in the digital economy. But both Visa and MasterCard have seen their revenue decline during the pandemic.
China considering an antitrust investigation into Alipay and WeChat Pay
August 10, 2020
China’s antitrust agency is looking at whether to launch a probe into Ant Group’s Alipay and Tencent’s WeChat Pay, prompted by the central bank which argues the digital payment giants have used their dominant positions to quash competition.
Is Visa so desperate for business they need to pay merchants to go cashless?
July 14, 2017
Visa US. is taking the war on cash to the next level. In a new initiative to encourage businesses to go cashless, Visa will be awarding up to $500,000 to 50 eligible small business food service owners who commit to stop accepting cash.
Mersch: Why Europe still needs cash
June 05, 2017
Yves Mersch, Member of the Executive Board of the ECB highlights the risks associated with a cashless society.
The road to digital money is paved with cash
May 05, 2017
The overall shift towards digital money is slow and patchy. More importantly, it is widening the monetary divide between those who have access to an increasing range of digital forms money and those who remain financially excluded.
Mobile payments will change the way we access cash
May 30, 2016
Many observers and payments experts have viewed mobile payments as the silver bullet to replace cash. Mobile handsets have become ubiquitous; the growth of m-commerce creates a natural market for m-payments; the handset can become a natural link between the physical and digital worlds. There are nonetheless several reasons why they are unlikely to replace cash.