Failure of cashless initiatives shows customers cling to cash
Global trend towards financial inclusion amid digitisation of everyday life has resulted in opportunities for payment solutions for the previously unbanked, but obstacles remain
As the world adopts the digitisation of everyday life, there is a global trend aiming at financial inclusion. The improvements in technology have resulted in opportunities for payment solutions and governments to offer more affordable transacting for the previously unbanked. However, that is not to say that a cashless society is a utopian one.
Cashless transacting enables organisations to engage with customers in more meaningful and personalised ways due to the data they generate about habits, preferences and other trends. As consumer adoption of digital technologies continues to accelerate, businesses have access to growing pools of customer data that can inform product development and customer interaction...
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