Payments News

Cashless trend becoming a crisis debate in UK, US

Mar 07, 2019

The rise in mobile payments technology and the related pressure being placed on legacy banking systems is threatening the financial stability of millions of people in the U.K. and the U.S., experts say, as bank branches and ATM’s begin to pull back from unprofitable areas and retailers increasingly move away from cash.

A report in the U.K. issued a stark warning, saying that if current trends continued in that country, more than eight million people, or 17 percent of the population, would struggle to cope with the lack of cash availability.

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