IDNoticias | Going 'cashless' isn't in the cards

Jueves, 21 de mayo de 2009

New credit card technology, such as contactless cards, while attracting more young people, won’t lead to a cashless society, says a representative from APACS, the UK payments association. Despite the success of these technologies, says Sandra Quinn, communications director, people will continue to use cash despite the marketing of contactless cards as the answer to low value transactions.

She cites APACS figures that show debit and credit card payments in the first quarter totaled $146 billion, yet there were still 696 million cash machine withdrawals in the same period.

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Going 'cashless' isn't in the cards