Imagine a world without cash

Imagine a world without cash. No more wallets full of crumpled bills, no more fumbling with change at the grocery store, no more worrying about losing your money on a night out. It might sound like a dream come true for some, but what would a cashless society really look like?

David Hensley Founder at Enryo Limited

Fintech appears to offer very little to the older consumer but at last the gap is starting to close

The fintech revolution has transformed the way we bank, invest, and manage our finances. But while fintech has been embraced by younger consumers, older adults have been slower to adopt these new technologies. A survey conducted in 2022 by PWC for the 2022 Global Fintech Adoption Survey* highlighted the clearly highlighted this gap:- 18-24 66.6% ...

28 August 2023 /payments /inclusion

David Hensley Founder at Enryo Limited

Seigniorage : The last roll of the dice for cash

In simple terms, seigniorage is the profit that a government or central bank makes from issuing currency. It is the difference between the cost of producing the currency and the face value of the currency. For example, if it costs a government £0.10 to produce a £1, then the seigniorage for that is £0.90. Surprisingly seigniorage is considered a ...

21 August 2023 /regulation /inclusion

David Hensley Founder at Enryo Limited

The benefits of increasing digital payments

Digital payments are becoming increasingly popular all over the world. In 2022, the global digital payments market was valued at over $7 trillion and is expected to grow to over $10 trillion by 2028. There are many benefits to increasing digital payments, including: Convenience: Digital payments are much more convenient than cash or checks. You ca...

14 August 2023 /payments /inclusion

David Hensley Founder at Enryo Limited

The negative impact of decline

The decline of cash access in communities is a growing problem, with a disproportionate impact on rural and deprived areas. This is due to a number of factors, including the increasing digitization of payments, the closure of bank branches, and the withdrawal of ATMs. The move to digital payments has been driven by a number of factors, including t...

07 August 2023 /people /inclusion

David Hensley Founder at Enryo Limited

The challenges with implementing a cashless society

The move towards a cashless society is gaining momentum around the world. Governments, businesses, and consumers are all seeing the benefits of a digital payments system, such as increased efficiency, security, and convenience. However, there are also some challenges that need to be addressed before a cashless society could be fully realised. One ...

31 July 2023 /payments /inclusion

David Hensley Founder at Enryo Limited

The impact of a cashless society on our economy

A cashless society is one in which most or all transactions are conducted electronically, with little or no use of physical cash. This trend is already underway in many countries around the world, and it is likely to continue in the years to come. There are a number of potential benefits to a cashless society. For one, it could help to reduce crim...

24 July 2023 /payments /inclusion

David Hensley Founder at Enryo Limited

Perhaps its time to ditch coin before it drags cash down

Perhaps it's time to ditch coins. Yes, you read that right. Whether it's bronze, silver or the new bimetallic coins they have become more of a nuisance than a convenience and if you really want to save cash then ditch coin. First of all, the manufacturing and distribution of coins isn't cheap. According to the US Mint, it costs approximately two ce...

17 July 2023 /payments /inclusion

David Hensley Founder at Enryo Limited

What if...

Imagine a world without cash. No more wallets full of crumpled bills, no more fumbling with change at the grocery store, no more worrying about losing your money on a night out. It might sound like a dream come true for some, but what would a cashless society really look like? For starters, it would be a world of convenience. Without cash, all tra...

10 July 2023 /payments /inclusion