The Federal Reserve is trying to figure out how to keep cash relevant in a cashless world. It’s considering digitizing the U.S. dollar, giving people money they can access on their phone and bypassing electronic payments that can be slow and costly for businesses. Illustration: Jacob Reynolds/WSJ
Tag Archives: Electronic Payments
Commerce: ‘Will Digital Payments Replace Cash?’
Is cash still king? The coronavirus pandemic may cause a drastic decline in cash usage due to the risk of contamination. The unprecedented surge in the demand for contactless payment has also shown outstanding performances for major companies offering cashless payment methods, like Apple, Square and Paypal. Could covid-19 signal the end of cash in the United States and can the U.S. really function without physical currency?
Boomers Daily 