Alex Bau, the director of data and policy analysis of the cash product office of the Federal Reserve System, spoke to Business Insider about the cashless trend.
On the flip side, the note found that cashless businesses promoted outright financial exclusion, made life more difficult for consumers with a preference for cash, and were tied to retailers racking up credit card fees. from the Congressional Research Service added that cash provides financial safety and a guaranteed protection of privacy for those unwilling to establish bank accounts.
Whether or not going cashless saves money — given the reality of card companies' fees — tends to depend on the retailer and how "streamlined" its operations are, according to Bau. Cashless options within stores still pose an opportunity that retailers are looking to explore. Bau said that in his office's discussions with retailers and merchants, businesses are typically looking to best accommodate the customer. So while a cashless society might be unfeasible at the moment, it would appear that, for some businesses, adopting cashless technology while also maintaining a baseline ability to accept cash may be the strategy.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
It will never BE!!!
Australia Australia Latest News, Australia Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
T-Mobile-Sprint merger just cleared its last hurdle - Business Insider - Business InsiderThe formation of New T-Mobile amid a time of flux in the US wireless market will have wide-ranging consequences for the US telecommunications space. I have been with t-mobile for 15 years hopefully they won't start acting like sprint or I am gone
Source: BusinessInsider - 🏆 729. / 51 Read more »
Netflix is investing in kids content - Business Insider - Business InsiderGreater investment in kids content from Netflix could cause even more young viewers to migrate away from ad-supported environments Does that mean NetflixFilm will cut back on all the pro-pot exposure in the rest of their programming? Every other show someone is toking up or worse, pretending its harmless. It's out of control. 👎 I think this is a necessary strategy to beat Disney+. Let's be honest, no one but kids is really using Disney+, and if Netflix wants to keep parents using their platform they need to make content kids wanna watch and can watch ElRodrigo69 are you ready? kiddo 3
Source: BusinessInsider - 🏆 729. / 51 Read more »
10 millionaires who shop at Target, Costco, and Walmart - Business InsiderBritney Spears shopped at Target 80 times in 2018, and Mark Zuckerberg was spotted browsing the TV aisles in Costco last year. There is a saying: You can learn to save from the rich! Live humble, Be rich. Well you can't ascend and stay to that level without learning how to save 🤷🏽♂️
Source: BusinessInsider - 🏆 729. / 51 Read more »
Barneys bankruptcy and closing stores left designers to struggle - Business InsiderA designer describes the devastating moment he learned Barneys was closing all its stores, months after earning a spot on its shelves — and it reveals how brands are left picking up the pieces after bankruptcies This is why - I make an effort to go into department stores.
Source: BusinessInsider - 🏆 729. / 51 Read more »
FTC looking at past acquisitions by Amazon, Facebook, Google, others - Business InsiderThe FTC is looking into past acquisitions by Amazon, Apple, Facebook, Microsoft, and Google-parent Alphabet as it ramps up antitrust inquiries nothing will come up it, and in the end, after all the appeals by the business, only a low-level nobody will be accused. All of them should pay me. My e-commerce was not for free. Do not get comfy with that, unless you pay. With social network too Got rich because of some spying. Should pay for that.
Source: BusinessInsider - 🏆 729. / 51 Read more »