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Demise of cash 2011

Cash is as we know expensive, risky, unhygenic, environment-unfriendly and an open invitation to crime, fraud, black and grey economy. Cash handling costs merchants in EU 50 billion a year. Are the consumers and consumer organizations aware of them paying every cent of this largely unnecessary cost?

Great progress in Finland in 2011. One seventh disappeared from ATMs - relatively much more from branches. 34m times less from ATMs would translate to 2,4 billion times less on EU-level.

Demise of cash 2011
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Comments: (2)

A Finextra member
A Finextra member 10 May, 2012, 10:20Be the first to give this comment the thumbs up 0 likes

Cash is not going anywhere fast - if you think that we'll be a cashless society in 20 years, I think you're very mistaken.  Pretty sure that we'll still be using cash in 50 and probably 100 years from now.

Bo Harald
Bo Harald - Transmeri, Demos, Real Time Economy Program,MyData - Helsinki Region 10 May, 2012, 12:43Be the first to give this comment the thumbs up 0 likes

Do you think it is a good idea not to try to minimize use of cash?

Bo Harald

Bo Harald

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Transmeri, Demos, Real Time Economy Program,MyData

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This post is from a series of posts in the group:

Innovation in Financial Services

A discussion of trends in innovation management within financial institutions, and the key processes, technology and cultural shifts driving innovation.


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