PaymentsJournal
No Result
View All Result
SIGN UP
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
PaymentsJournal
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
No Result
View All Result
PaymentsJournal
No Result
View All Result

Cash Is Here to Stay Despite the Rise of Bitcoin, Venmo, And Apple Pay

By Sarah Grotta
April 24, 2015
in Analysts Coverage
0
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
cash

Cash has a way of driving economies around the world and in many cases, it is still king. It isn’t just physical cash anymore, with digital payment methods like direct deposits and even cryptocurrencies taking a share of the circulation. It’s clear that it plays an important role in our lives and will continue to do so for generations to come. Despite all the cashless methods that are out there, it continues to be a reliable means for economic transactions across numerous countries.

Those of us actively participating in the next evolution of payments sometimes forget that for many, cash is still around and actually considered necessary. This article includes some statistics on current cash circulation as cited by the US Treasury:

“Half of small transactions (less than $50) are made in cash. At the current rate of decline, cash will be a major form of payment for 200 years! So, anyone who says this year is the year is out to lunch. For fun, approximate daily circulation:
• 38 million bank notes
• 42 million coins
• $2776 per US resident
• 6% of US GDP (vs 3% in Canada)”

Cash offers simple, anonymous payments that cannot be tracked or monitored. This means cash remains the trusted go-to payment option for those without bank accounts, those who would like to maintain privacy, or those whose trust in digital methods has been shaken with cyber-attacks on digital wallets.

Just as ATMs did not replace all bank branches and as debit did not replace all checks, we only add to our options. Prior forms, particularly ubiquitous and anonymous cash, will stubbornly stick around.


Overview by Sarah Gratto, Director, Debit Advisory Service at Mercator Advisory Group

Read the full story

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

    Get the Latest News and Insights Delivered Daily

    Subscribe to the PaymentsJournal Newsletter for exclusive insight and data from Javelin Strategy & Research analysts and industry professionals.

    Must Reads

    Navigating Global Fintech Regulations Through Strategic Regulatory Arbitrage

    Navigating Global Fintech Regulations Through Strategic Regulatory Arbitrage

    July 16, 2025
    AI Is Turning Accounts Receivable Into a Strategic Powerhouse

    AI Is Turning Accounts Receivable Into a Strategic Powerhouse

    July 15, 2025
    Embedded Finance

    Embedded Finance: Bringing Payments Under a Single Umbrella

    July 14, 2025
    Making Real-Time Payments a Reality

    Fulfilling the Promise: Making Real-Time Payments a Reality

    July 10, 2025
    mortgage

    The Rich Benefits of In-House Payment Systems

    July 9, 2025
    digital cards

    Beyond Plastic: Why Digital Cards Are the Future

    July 8, 2025
    What Premium Card Overhauls by Chase and Amex Reveal About the Credit Card Market

    What Premium Card Overhauls by Chase and Amex Reveal About the Credit Card Market

    July 7, 2025
    Rewire Acquires Imagen, Looking at Prepaid Cards for Migrant Workers

    Smells Like Team Spirit: What Makes Cobranded Credit Cards Work

    July 3, 2025

    Linkedin-in X-twitter
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter

    ©2024 PaymentsJournal.com |  Terms of Use | Privacy Policy

    • Commercial Payments
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    No Result
    View All Result