For as long as there have been electronic payments, there has been talk of the theoretical "cashless society." Technologies do exit their respective stages at some point, of course — ask any owner of a stash of Betamax videos or 8-track cassettes — but the simple/elegant technology of tangible currency has a long life ahead of it, even in the face of digital payments and transactions.
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"The cashless society is about as a real a possibility as the paperless office," said Mike Lee, president of the ATM Industry Association.
The changing nature of the transaction
Cash may not be disappearing anytime soon, but there can be no denying that its role in the world economy is changing. From cash-preferred consumers to the rise of online shopping and concern over bank stability, the relationship people have with their money is evolving on an almost daily basis.
It is precisely that change and uncertainty that prompted
ATM Marketplace, a sister site of Self-Service World, to conduct its own research, culling the collective opinions and outlook of more than 500 financial industry players.
