Tagged: cashless society

March 11, 2021 @ 10:22 pm By Omar Faridi  |  

South Africa based Fintech group Adumo has secured R225 million (appr. $14.9 million) in capital from the International Finance Corporation (IFC), which is a member of the World Bank Group. The IFC Financial Institutions Growth Fund also contributed investments in order to expand access to… Read More

July 22, 2020 @ 1:10 pm By Omar Faridi  |  

The Qatar Development Bank (QDB), an institution offering financial services, banking and loans for the development of the Middle Eastern nation’s industrial, tourism, educational, health care, (and other sectors), recently confirmed that it aims to accelerate the digital transformation of the financial services industry in… Read More

June 26, 2020 @ 7:25 am By Omar Faridi  |  

In February 2020, Sweden began piloting an electronic version of its national currency, the e-krona. The European nation’s government had confirmed at that time that the e-krona was a step closer to its official launch as a central bank digital currency (CBDC). Riksbank, the central… Read More

June 21, 2020 @ 3:08 pm By Omar Faridi  |  

Bank branches and ATMs might continue to disappear across Australia as the COVID-19 outbreak is expected to accelerate the shift towards a cashless economy. Local news outlet 7NEWS Sydney reports that the use of cash has been reduced by over 50% due to the Coronavirus… Read More

December 26, 2019 @ 9:18 am By Omar Faridi  |  

The United States is reportedly expected to lose its top rank as the largest cashless country and society in the world to nascent Asian markets by next year. Cashless transactions in the US are projected to increase by 4.7% to reach $184 billion by 2020,… Read More