27 July 2016
Bo Harald

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Bo Harald - ZEF and Real Time Economy Program

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Innovation in Financial Services

Innovation in Financial Services

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

Demise of cash 2011

08 May 2012  |  2855 views  |  1

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 TagsPayments

Comments: (2)

A Finextra member
A Finextra member | 10 May, 2012, 10:20

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.

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Bo Harald
Bo Harald - ZEF and Real Time Economy Program - Helsinki region | 10 May, 2012, 12:43

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

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