Around the world, cash remains a significant consumer payment instrument, but as the 21st century shopping experience evolves, consumers who use cash exclusively or almost exclusively will be disadvantaged as goods and services increasingly move online.

In many countries, in response to the prevalence of cash for payments as well as to the low percentage of consumers with checking bank accounts and consumers’ concerns over the security of transmitting sensitive personal and financial details online, firms have stepped up to provide cash based alternative online and mobile payment services. These services enable consumers to pay with cash for purchases they can initiate online or with their mobile phones. [Read more…]