The Importance of Cash in the Retail Segment
Remember when TV was supposed to kill off radio? And when the internet & streaming services were supposed to kill TV? Digital media was to render print media obsolete and, of course, electronic payments were supposing to bury cash in a 6-foot hole?
Well… according to the U.S. Federal Reserve Board, cash remains to be the most popular retail payment mechanism in the US, accounting for nearly 1/3 of all transactions in 2017.
In 25 years, the U.S. dollar will probably still be the world’s reserve currency, that’s the latest consensus among a group of currency experts and the case study conducted by Federal Reserve System in October of 2016. #cashisking