As a private individual in the UK with a regular UK bank account I have no problem in paying any individual or company immediately through faster payments, unlike most of the world, including the USA. So why all of this waffle? How about a few lines to describe the problem (and the solution) rather than 5,000 words.
17 Jun 2016 15:35 Read comment
In my mind GCC stands for Gulf Co-operation Council, a group of six countries in the Arabia Gulf, including Saudi Arabia & Kuwait. The GCC has existed for at least 40 years and is well known to anyone visiting the Gulf. Perhaps an alternative acronym might be appropriate.
17 Jun 2016 10:15 Read comment
I could not agree with Ainsley Ward more. No-one has an accurate figure for cash use, so making comparisons is pure guesswork. Whilst I accept that debit card useage is increasing - and I am greatly in favour - cash withdrawals from ATM's and cash in circulation are both on the increase. How do you explain that?
24 May 2016 14:09 Read comment
Excellent
09 May 2016 07:28 Read comment
To answer your question - Are traditional payments about to become obsolete - the answer is very much no. Even you admit to carrying a contactless card and cash. You are one of many doomsayers regarding the impending demise of credit cards, debit cards and cash, yet the amount of cash in circulation in both the US & the Euro area increased in 2015 which itself was an increase over 2014. Your quoted statistics start from a small base, compared to the value of transactions on debit cards, credit cards and cash. It is very easy to see a double digit growth from such a small base. What I would prefer to see, statistically, is the value of digital payments as a percentage of all payments, then I can evaluate your comments.
21 Apr 2016 07:30 Read comment
What an outstanding assessment. Most of the doom merchants predicting the demise of cash have a vested interest in cash replacement. Great statistics and great information.
17 Mar 2016 07:08 Read comment
Cash remains an integral part of the UK payment methodology. It also remains an integral part of society in the US and Germany, two of the world's major economies. The writer of the article is indicates that a cashless utopia is a lot further away than people think. I agree.
02 Mar 2016 17:28 Read comment
I note that the three comments to date are all anti-cash and doomsayers for the future of cash. However, the whole point of the article is that cash is here to stay for the long haul, no matter what these doomsayers would like to happen. Life on the streets is not heading towards the utopian cashless society at any time in the foreseeable future. In fact, the article points out that very little headway is being made to replace that grubby, anonymous and unaccountable payment method.
02 Mar 2016 07:52 Read comment
You left off the second half of the sentence from the 5th January article - 'but all regions, except North America, saw growth in the total volume of withdrawals.'
26 Jan 2016 12:50 Read comment
On 5th January 2016 Finextra published an article - "Appetite for cash remains strong as ATM usage soars". Within the article it also said that with the exception of North America, the number of withdrawals increased throughout the world. So who is right? I suspect that each party is selecting the statistics that suit their needs. Anyone read Daryl Huff - How to lie with statistics?
26 Jan 2016 09:33 Read comment
Hubert O'DonoghueManaging Director at O-C Group
Stephen WilsonManaging Director at Lockstep Consulting
Peter ThomasManaging Director at DLRT Ltd
Andreas BittnerManaging Director at Bitfast GmbH
Maximilian SchausbergerManaging Director at Elevator Ventures
Welcome to Finextra. We use cookies to help us to deliver our services. You may change your preferences at our Cookie Centre.
Please read our Privacy Policy.