Digital economy can't be without cash

With the pandemic, businesses and governments around the world are stepping up efforts to discourage cash in favour of digital and contactless payments. There is a compelling case for moving towards an innovative, digital-first, cashless society, especially in Southeast Asia, to empower small businesses and citizens to access the global digital economy. But going completely cashless may lead to some unintended consequences.

As the world continues its relentless march towards a cashless economy, e-commerce has capitalised on a coronavirus-led boom. PPRO’s transaction engine has seen online purchases across the globe increase dramatically this year: some – such as purchases of women’s clothing – we did not foresee, but others such as food and drink, up by 285 per cent, and health care and cosmetics, up by 160 per cent, were predictable. Overall, these e-commerce levels were not predicted for another five odd years.

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The War Against Cash - 06/10/2021

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The cashless society from an ethical point of view

The debate about the move towards a cashless society has been at the center of the scene for several years, now. Various angles have been taken by economists, politicians, banking institutions and sociologists. Beyond the technicalities of the debate, lies the question of freedom, of inter-citizen solidarity and of governmental responsibility. The debate cannot remain in the hands of financial specialists, it is first and foremost an ethical, political and societal issue.

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Top Ten Things To Know

The debate

The State of Florida wants to Protect Cash for an Inclusive Economy

Why protecting Cash is still so Important

Why Cash is King in Switzerland and is a sign of good Governance

Contactless card: convenient but... dangerous

Less inclusion, more inequalities: the heavy assessment of the Cashless Economy

The hidden costs of Cahsless Society

How to lose millions by turning Cashless

The Cashless Debate about Freedom and Risks must exist

The EU stands for cash!

Why Cashless Society means Danger