As noncash payments take the lead some merchants are deciding that they no longer want to accept cash. But while there are costs to managing cash (and digital payments, too, obviously), there can also be a cost to a brand for refusing to accept it.
Shake Shack founder Danny Meyer recently penned a blog post giving three reasons why his restaurants were going cashless. Consumers pushed back, giving one reason why they hated the idea and, in the end, their wishes prevailed.
ATMs are primed to play a key role in omnichannel banking, providing a bridge between different delivery channels and enabling FIs to save costs by moving traditional teller transactions to interactive self- service machines.
Picture this: customers in your busy store, hungry to spend, the tills ringing with the sound of profits. Sounds perfect! Your cashiers are going through till rolls at a tremendous rate and are requesting additional supplies of change, but it’s not only cash to be mindful of.
On the 24th November the shopping event of the year, Black Friday, will be in full swing with shoppers ready to splurge their cash. This marks the start of the busiest spending season of the year on the lead up to Christmas.
One of the primary benefits of EMV is that it significantly reduces counterfeit fraud. This video from Paragon Application Systems Inc. explains how this is accomplished through the use of two online cryptograms.