Cash isn’t dead yet. Far from it.
These days you can pay for stuff or send money with newfangled “electronic” services such as PayPal and Venmo, fall back or traditional credit cards, cut an old-fashioned check or take your chances with Bitcoin.
Even with all these new options, however, the demand for cash “remains robust around the world” and it’s even increasing, according to a new study.
Although the use of electronic payments has grown more rapidly since 2000, the amount of cash in circulation among the world’s wealthier countries has increase about 7% to 9%, the Bank for International Settlements found.
The use of cash has risen in most countries except in the Nordic region — Denmark, Norway and Sweden. Cash in circulation in Japan, for instance, is 10 times as large as it is in Sweden after accounting for the different sizes of their economies.
Japan and Hong Kong have posted the biggest increases in the use of cash since 2000.
“Cash in circulation is, in fact, not dropping for most countries," the study’s authors wrote.
Why is cash still royalty among the various forms of currency?
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
5 comments:
When the next Hitler wants to control a country. Cutting the electronic dollar will be the best way..forcing people to the barter system which won't work like it has in the past, and in turn usher in a whole riot and Rob em anarchist mess...so keep using paypal, and eliminate brick n mortar.Lets see what happens when a dictator uses your laziness to control you. Just saying.
Norway,Denmark and Sweden they use alms what muslim money is now don't they?
Don't you love it when you are behind someone buying coffee with a credit card at McDonald's. Paying 18% on french fries Hahahahahah Looser
How do you know that person is raking up the points and that person pays his/her credit card payment on time each month. Enough points and you can have a steak dinner at Ruth's Chris. Try it some time. Racking up points. It works.
I pay no interest at all because I pay my bill in full each month. I use the card so I can fly for free each year on my vacation.
Who is the loser?
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