News

Visa predicts cash's downfall

Ian Grant

Reloadable pre-paid cards instead of cash is the way of the future, according to research commissioned by Visa into the spending habits of US baby boomers and echo boomers.

Evidence cited includes more that 75% have a debit card, more state governments are issuing pre-paid cards rather than cash to disburse benefits payments, and the spread of contactless payment systems such as Oyster cards and mobile phones for small transactions.





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