Handling Cash In An E-Payments World
By Stephen Bergeron, Vice President of Global Marketing, APG Cash Drawer, LLC
Even with the introductions of electronic payment options, mobile phones, and mobile wallets, and contrary to popular beliefs, cash remains a very active payment choice. Recently there have been several very public security breaches that have led to an increase in cash usage. Depending upon the vertical and tier within that vertical we see the percent of cash transitions ranging between 59 percent and 85 percent globally[2, 3]. Cash continues to play a key role in consumer spending. In fact, a recent report from the Federal Reserve Bank of San Francisco states that cash is the most used retail payment instrument — even where other payment options are available.