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Nick Jones blogged about cash. We managed to eliminate private cheques in Finland in 1983 by putting a charge (8c) on the cheque forms (picked up or mailed). At the same time there was a big drive for debit cards and this lead to a
very positive negative trend for cash already then.
Another positive effect was that the debit card could be used for login to bill payment terminals - and this habit (to key in payments) again paved way for PC-home-banking (launched in 1982) which paved the the way for the internet version of homebanking
Also bad for the environment: http://www.finextra.com/community/Fullblog.aspx?id=2261
and a crime enabler and booster: http://www.finextra.com/community/Fullblog.aspx?id=3399
Cash usage is declining steadily - as illustrated by ATM-withdrawal statistics here:
Off course cash usage would decline faster if ATM withdrawals would be charged for - also in Finland.
Chairman/Founding member, board member
Transmeri, Demos, Real Time Economy Program,MyData
04 Nov 2008
11 Nov 2019
06 Nov 2019
28 Oct 2019
This post is from a series of posts in the group:
A discussion of trends in innovation management within financial institutions, and the key processes, technology and cultural shifts driving innovation.