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A Finextra member
A Finextra member 20 April, 2017, 07:53Be the first to give this comment the thumbs up 0 likes How many Netflix subscribers pay in Cash? I think Book and Media retailers (such as Waterstones and HMV) will be able to illustrate the significant impact direct digital internet sales are having on their Businesses. Whilst I do not anticipate Cash dying anytime soon I do foresee a drastic reduction in its usage as Consumers start to realise the benefits of Electronic payment methods.
A Finextra member
A Finextra member 20 April, 2017, 07:58Be the first to give this comment the thumbs up 0 likes Fair point, though cash is a payment option, and one which will live in the future. Uber for example accepts cash in India such is the nature of the economy there. Businesses have to adapt there business models, just as much as consumers have to adopt payment trends. I'm not suggesting Netflix will ever accept cash, I don't pay any "bills" like a subscription service in cash, though from a personal point of view, I use cash everyday, and I trust it
Ketharaman Swaminathan
Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune 20 April, 2017, 19:28Be the first to give this comment the thumbs up 0 likes

"Uber for example accepts cash in India such is the nature of the economy there."

Uh oh let's not jump to conclusions about economy of nations based on what one company does or does not. India has >600M payment cards. Uber's customer base is 10M in India. So there are 60 cards for every Uber customer in India. Uber's acceptance of cash has nothing to do with economy. 

When Uber entered India, it didn't accept cash. Its target audience had cards and, like their brethren elsewhere in the world, liked the frictionless payment experience whereby the card account was debited automatically, with the rider having to do nothing at the end of the ride. However, "invisible payment" of this nature violated the Indian regulator's two factor authentication mandate for card payments. Uber was told to change its card acceptance procedure to comply with 2FA. Since 2FA causes friction, Uber decided to stop accepting cards altogether and started accepting cash in India. Uber went back to the drawing board and found a way to accept cards that complied with 2FA, still avoided the traditional 2FA friction. After its relaunch, card payments on Uber India work as follows: Riders still walk out at the end of the ride without doing anything. But they must make the payment via 2FA - or, if that fails, by cash or linked mobile wallet - before they book their next ride.

In short, Uber gives credit until the next ride. I doubt if Uber takes this kind of credit risk anywhere else in the world. That, to me, says something about the Indian economy.

A Finextra member
A Finextra member 20 April, 2017, 19:37Be the first to give this comment the thumbs up 0 likes I certainly wasn't drawing any conclusions about Indian economy from one companies policy, nor would I claim to be an expert on why uber did or didn't make that decision, merely making the point the cash is still a payment option for companies, even those who may be associated with a cashless future. That's all, I'm sure there is many examples the world over, UK taxis many don't take card payment. Was just an example that was fresh in my mind

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