The great people over at the Visual Capitalist recently put together an article called The Shift to a Cashless Society is Snowballing that included this great infographic showing cash and cashless transactions around the world from Raconteur.
Love it or hate it, cash is playing an increasingly less important role in society.
In some ways this is great news for consumers. The rise of mobile and electronic payments means faster, convenient, and more efficient purchases in most instances. New technologies are being built and improved to facilitate these transactions, and improving security is also a priority for many payment providers.
However, there is also a darker side in the shift to a cashless society. Governments and central banks have a different rationale behind the elimination of cash transactions, and as a result, the so-called “war on cash” is on.
Nikolas Badminton is a world-respected futurist speaker that researches, speaks, and writes about the future of work, how technology is affecting the workplace, how workers are adapting, the sharing economy, and how the world is evolving. He appears at conferences in Canada, USA, UK, and Europe. Email him to book him for your radio, TV show, or conference.