Forget Bitcoin and Mobile Pay. Cash Is Still King of the World
A study of seven countries shows reports of the death of cash have been greatly exaggerated.
This article is for subscribers only.
Everywhere you look, someone is trying to kill off cash.
India eliminated 23 billion notes from circulation in an effort to fight tax evasion and corruption. Bitcoin and mobile payments are still hyped as the wave of the future while credit cards offer increasingly aggressive rewards. An influential U.S. economist wants to stop printing denominations of $20 and above. His goal: help central banks impose negative interest rates as monetary policy.