The race to cashlessness is being run around the globe, but at very different speeds. In the developed world, cash payments continue to decline. In some parts of Europe, shops, restaurants and bank branches even refuse to handle cash because of how little consumers use it. But in the developing world, cash payments commonly still account for over 90 percent of the economy.
The issues of going cashless in the developing world are largely about financial inclusion, i.e. access to banking services, education, access to technology, and cost, whereas in the developed world, the discussion shifts towards issues of privacy, equal opportunity and technological inertia.
In this whitepaper, we identify and discuss the main barriers to going cashless in both developed and developing economies. Download your free copy now.