PCA Chair Ron Delnevo speaks to Talking Retail about why cash is far from dead
Posted on: 13/06/2023The Payment Choice Alliance’s Chair, Ron Delnevo, a world expert on payments and a former boss of independent ATM operator Bank Machine. He now chairs the Payment Choice Alliance, states the case for a Payment Choice Act in this insightful article in Talking Retail.
Cash continues to account for over 50% of sales in many community retailers. So those running such shops know how important cash is to both them and their customers.
It is very important that these vital local businesses continue to welcome cash, since without competition from cash, the charges imposed on smaller retailers by card and digital payments providers would go sky-high.
For local residents, it is also vital that their community shops accept cash. Otherwise, people would be forced into using payment methods which would cost them more to use, induce them to spend more than they can really afford and ultimately leave them exposed to all the risks of a 100% monitored society.
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