3 drivers helping bridge the gap to a cashless society

JASON BOHRER | November 29, 2018

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Today, only 41 percent of Americans regularly carry cash, creating a demand for alternative payment methods and unlocking a world of potential for innovation in Fintech. As payment solution providers strive to be ahead of the shift, and in many cases push the cashless agenda, they'll be further confronted with consumers demanding developments that are in tune with their lifestyle. But adapting to better meet the needs of an increasingly cashless society won't happen overnight  so how will the financial services industry realistically bridge the gap between today and the cashless future on the horizon? Among the payment innovations helping them do so are convenient prepaid debit cards, frictionless dual-interface cards and multi-use point-of-sale (POS) systems. The global market for prepaid is projected to reach $3.1 trillion by 2022, attributed to a number of factors including the decline of cash which has created a demand for more convenient alternative payments to replace traditional currency.

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