CASH IS FAR FROM DEAD AND USE IS RISING

THE PAYMENTS SECTOR HAS ARGUED THAT THE USE OF CASH IS FALLING AND THEREFORE THEY DON'T NEED TO PROVIDE AS MANY ATM MACHINES OR BANK BRANCHES.

STILL, DEBIT AND CREDIT CARD PAYMENTS ARE RISING AS WELL, FROM 13 PERCENT OF GDP IN 2000 TO 25 PERCENT IN 2016.

The payments sector has argued that the use of cash is falling and therefore they don't need to provide as many ATM machines or bank branches.
"The resilience of cash as a social institution reminds us of the importance of understanding the economic functions of money, beyond just the innovations in technology," Shin said.
FILE PHOTO: Samsung's new Samsung Pay mobile wallet system is demonstrated at its Australian launch in Sydney, June 15, 2016.

Cash is far from dead and use is rising: BIS Reuters Staff 2 Min Read LONDON (Reuters) - Even though more people now use cards, mobile phones or even facial recognition technology to pay street performers, buy pizza or...

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