Retailers

The crisis is forcing many businesses to reinvent themselves. It is also spurring innovation in the cash cycle, as banks, retailers and other stakeholders are designing new ways to distribute and handle cash.

Groups representing the currency, ATM, transportation and security sectors call on governments, central banks, media, business and society to stand up for cash.

Visa will pay shops to offer cashback in rural locations in the United Kingdom.

In the latest move to promote digital payments, the Indian tax authority has announced that from February 2020, retailers with annual sales exceeding Rs 50 million ($700,800) will be fined Rs 5,000 ($70) per day if they fail to provide solutions for the acceptance of digital payments.

The British Retail Consortium has published its latest Payment Survey which shows that credit card spending overtook cash spending in 2018. Debit cards remain the most popular method of payment, accounting for almost three-in-five transactions.

A surprising move for a company which is better known for waging a war on cash, Mastercard will now pay shops to dispense it to customers.

With the launch of Amazon PayCode, US customers now have it easier by purchasing their online shopping items with cash thanks to Amazon’s latest checkout payment option.

SoCash, a Singaporean startup that turns shops into virtual bank branches, via a mobile app, has raised $6 million in funding, led by cash automation company Glory, with the participation of venture capital funds.

Cash remains a popular form of payment option in Ireland that FinTech company PCS is piloting a processing technology that will improve liquidity, increase efficiency and reduce risk to strengthen in-store cash flows

A BBC led investigation found UK retailers, letting agents, and a university illegally charging customers for card payments, despite EU’s 2018 ban on credit/debit surcharges.

Access to cash is becoming a challenge in some parts of the UK, forcing retailers to increase prices and impacting low income households.

Due to exorbitant interchange and contactless service fees, a growing number of merchants are abandoning tap-and-go at checkout in New Zealand.