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J&J-Tylenol. VW-Emission Scandal. Satyam-Fraud. When such a thing happens in large companies, they wake up and work harder to fix the problem. Why is it that this company shuts down at this point?

"Netflix is blaming slow US growth on the switch to chip-based credit cards"
http://qz.com/524537/netflix-is-blaming-slow-us-growth-on-the-switch-to-chip-based-credit-cards/

Well, Netflix confirms my fear that "steps taken to mitigate fraud could ... stunt revenues." While Netflix is the first, according to this article, it's not likely to be the last.

@FinextraMember:

Given that cash in circulation is growing, not shrinking, it must be rule. In any case, the question of rule or exception is only applicable for unidirectional sequences. IMO, the shift between cash and cashless is a two-way street. There are things I paid by card 15 years ago that I pay by cash today (Why I Went From Card To COD). When UBER was launched in India, it didn't accept cash. Today it does. Suddenly, merchants have started slapping exorbitant surcharge for online card payments, so many people are going back to cash.

In all the hype about cash having germs, cocaine, etc., we tend to forget that currency note is the only mode of payment that carries the signature of the central bank Governor / Chairman. Beyond the symbolism, that confers an exceptionally powerful role for cash as being the only instrument that can transfer value from payer to payee WITHOUT THE INVOLVEMENT OF ANY THIRD PARTY. That means a lot and makes cash naturally the cheapest and most convenient mode of payment.

Hey @FinextraMember:

But someone has! One of the popular use cases of Venmo via Nimbl is online ordering of cash for delivery to your doorstep!!!

https://twitter.com/GTM360/status/532903534086602752

Not sure about UK but, globally, cash in circulation is growing at 7% per year. More on that in my comment here: https://www.finextra.com/news/fullstory.aspx?newsitemid=27737

@JimWells + 1. 

Calling B.S On Banking The Unbanked

Good post. I totally agree with your assertion that "most of us would prefer their money to be stolen rather than our biometric information being in hands of some criminal organisation." That said, I wonder if it isn't too early to concede that biometric info will also get breached.

I know we keep seeing a number of mythical payment innovations but I believe Ripple is for real - even without its "fiction-free" label!!!

I can bet that Scottrade is not the only one. "Ignorance is bliss" until FBI imparts knowledge!

As of now, my bank is acting as my conscience-keeper and telling me how to save trees:  

https://twitter.com/GTM360/status/650936210400145408

I'm sure it'll realize it's my bank and start telling me how to save money. If not within the proverbial "six working days" but at least after a few months!

Warts And All, The System Works