Jul 10, 2020
COVID19 has led to speculation that the pandemic could be the catalyst for the arrival of the cashless society.
Stay-at-home measures and pandemic fears have led to an increase in online shopping. At the same time, some brick and mortar merchants are refusing cash as a defense against germs. But consumers haven’t abandoned cash just yet.
Rachel Huber, senior analyst in payments at Javelin Strategies and Research completed a study on the health of cash for ATM provider Cardtronics in late 2019. Given the pandemic, the company thought that she should do another survey to see how the pandemic changed things.
In our conversation, we talk about what happen to cash usage, who uses cash, and the growth of contactless payments. Some of the findings were counterintuitive. You can hear about how things are playing out in the episode and find the complete study at:https://www.cardtronics.com/landing/HealthOfCash.aspx#:~:text=Cardtronics%20sponsored%20Javelin%20Strategy%20and%20Research%20to%20conduct,COVID-19%20pandemic%20and%20economic%20response%20in%20April%202020.
Interested in becoming an IPA member and helping to shape the future of payments? Reach out today and talk to us about the benefits of joining. Go to www.ipa.org to learn more.