Bank of America Merrill Lynch cash recycling solution in the USA & adds lockbox site in Canada
Improves Working Capital by freeing up trapped cash, lowering costs and increasing efficiency
Cash Payments at POS
Background
Cash, bank notes and coins, are the oldest payment system and coins were first used some 2,500 years ago. Cash is used for the majority of payments in almost all countries. In Europe in 2008 78% of…
Read moreFrench card fees cut agreed for MasterCard and Visa
Card fees to be cut by almost half
Opening up emerging and under-developed markets
Use mobile point of sale terminals and mobile software
UK Payments Council report shows cash usage on the up with 54% of all payments in the UK made by cas
The new UK Cash & Cash Machines 2013 report from the UK Payments Council shows that cash use increased in the UK last year, with consumers and businesses making 20.8 billion cash payments in 2012, compared with 20.6
UK: cash use down 10% as new ways to pay change old order, and banks still charges are still way too
Fundamental changes in the UK retail industry as customers embrace new technology and new ways to shop are producing major changes in the relative importance of different payment methods.
Are contactless payment cards about to go mainstream in UK as M&S customers embrace contactless
Around one in seven card payments of under £20 are now contactless at UK retail giant Marks & Spencer (M&S), which is processing more than 230,000 tap and pay transactions every week.
Digital cash replacement (Mondex 2?) from Royal Canadian Mint for transactions under $10 in developm
It is a great idea - to replace the expensive cash transactions under $10 by chips holding the cash digitally, but it is expensive to set up the infrastructure and make it work. RBS/NatWest spent a
Cash is dead? But cash in circulation in US is now 42% higher than in 2007. It’s demise is greatly e
Since the start of the recession in December 2007 and throughout the recovery, the value of US currency in circulation has risen dramatically. It is now fully 42% higher than it was five years ago.
The UK Payments Council ‘The way we pay’ report 2013 suggests beginning of end for debit cards
The Payment Council's report on the way the UK pays always makes interesting reading. Some of the key findings from the report are:
Canada Pulls the Plug on the Penny
The Canadian Mint has now ceased distributing pennies to financial institutions and the circulation of the currency will begin to decline. The transition data was announced in July 2012 after consultations with smal
Expansion of e-Cash and mobile payments at point of sale in Africa continues
The latest example of the expansion of e-cash in Africa is in Rwanda where the mobile payment platform MobiCash and financial institution KCB Bank has launched BioCash, a financial service that uses the national ID
Bank of England eyes durable plastic to replace notes
The Bank has confirmed, Sky News claim, that a proviso is included in a new bank note printing contract to replace paper with polymer-based cash. They may be following Australia, who introduced flexible plastic bank
It’s the personal touch that generates repeat business
Old fashioned personal service is returning to the point of sale (POS) using a combination of mobile phones, iPads and the card schemes.
Cash is the fall back, cash is king
Fans attending the London Olympics football match between Team GB and the United Arab Emirates (UAE) at Wembley Stadium found that they could only purchase food and drink for cash after their card payments were reje
Although cash still dominates sub-Saharan domestic remittances, mobiles and mobile money are key eve
The Bill & Melinda Gates Foundation foundation commissioned pollster Gallup to carry out face-to-face interviews with 1000 adults in each of 11 sub-Saharan countries: Botswana, Congo, Kenya, Mali, Nigeria, Rwanda, S
It’s official: cash payments are making a comeback and credit card usage continues to fall
There are many examples of cash making a comeback at the point of sale, here are some:
Costs of payment collection at point of sale in UK: cash is cheapest and is, on average, 24 times ch
The British Retail Consortium (BRC) has been conducting their annual Cost of Payment Collection Survey, since 1999, of their members' costs of payment collection to provide participant members with key benchmarking
Contactless card usage and functionality is growing in UK, but very, very slowly
Today, upgrades begin across UK retailers and vending machines to raise the contactless card payment limit to £20 from £15.
SafetyPay adds cash payment option for eCommerce worldwide
SafetyPay, a US-based on-line payment systems developer, has added a global cash payment option.
USBank and Dunbar Armored combine to provide retailers with advanced credit on cash
USBank's Remote Cash Deposit Service will now be able to issue Advanced Credit®'s for cash deposited into the electronic Dunbar Cash Manager Safes® - see below.