TARIF: Is Cash Really King?
Whether we like it or not, technology is moving us to a more cashless society. The Payments Association of South Africa is currently implementing strategies to make South Africa cashless by 2030. It remains to be seen if such an ambitious goal is reached in such a short time. The justification for this move toward a cashless culture is that it is much safer for all concerned and it is less expensive for businesses if they do not handle cash. The banking sector certainly agrees with this. But while there is a great deal of truth in such rationale, there are numerous pitfalls to a cashless…
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