Cash

As more stores either close down or try to ban the use of cash, they aren't necessarily driving cash users to cards and mobile wallets. Instead, they are driving some to an environment that is, counterintuitively, more cash-friendly than ever: e-commerce.

U.S. lawmakers are not enthusiastic about the cashless trend being driven by the likes of Amazon Go, sweetgreen, and numerous other merchants of all sizes.

As more U.S. e-commerce merchants look to accept cross-border payments, they must contend with payment processes that are less straightforward than they are used to — but which consumers have come to expect.

Sweden will likely push through a proposal to force banks to keep offering cash to customers who require it as the Nordic nation grapples with how to balance the rapid transformation into a cashless society.

Legislation banning shops from refusing to accept cash has moved swiftly this year. But this trend is running head-on against retail models like Amazon Go, which are built from the ground up to operate without cash.

An initiative by Visa and Lloyds doesn't go far enough and is counterintuitive to the card network's move to reduce cash, argues Mark Horwedel, a strategic consultant to CMSPI.

A movement to eliminate cash for routine transactions has been building for years, with sports stadiums often seen as an ideal setting to test whether consumers are willing to ditch cash for a full day out.

China's rapid urbanization is causing a payments technology gap between the city and country, leading the government to issue a plan to bring digital payments in small towns and rural areas, a move that should also boost volume for Ant and Tencent's payments businesses.

Lloyds is paying small merchants to offer cash back, but consumer groups are already casting the move as inadequate to address the decline of branches and ATMs in the U.K.

Whether they process cards, bank accounts, cash, or whatever comes next, digital payment systems must be reliable, flexible and ever-advancing, writes Michael Kaplan, chief revenue officer at PayNearMe.