The story is a familiar one: we are moving ever closer to a cashless world, as “disruptive technology” comes along that allows us to pay for goods and services with a wave of our preferred card or device. However, a new report suggests that for now, cash is still king (except in South Korea and Sweden). The only nit is the report was written by GS4 who make a lot of money transporting cash!
Just two countries are identified that have seen significant falls in cash payments: South Korea, where cash use is just 14 per cent and where the government has a coin reduction policy in place, and Sweden, where cash use is at 20 percent. For now, for most of us, cash is still king.