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Most of the world still dependent on cash

Anonymous Coward
Anonymous Coward

Most people in the world are still dependent on using cash for making basic payments, meaning that benefits such as reduced costs and greater speed of transactions are being missed out on, according to new research.

So sad. You can't even get past the first sentence before finding the obvious lie. There's no way in hell using bank cards would reduce costs in the places where cash is still king. Even here in the State's it is at best a break even proposition. When I implemented the credit card processing system for our non-profit, we were paying 25 cents + about 2.5% of the total transaction amount per transaction, and that was just to the processing company. I don't recall if we got charged the basic 25 cents even if the request was declined. I don't recall what the processing for the cash deposit was, but as I recall, most of the expense was in the armored pickup. For some odd reason even bankers get nervous when you drop $150K at the teller window. And yes, I do mean cash. We didn't take checks at the door because of the chances of them bouncing.

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