Africa’s largest economy plans biggest overhaul of cash system as consumers shoulder $5.5billion annual bill

africa.businessinsider.com

Africa’s largest economy plans biggest overhaul of cash system as consumers shoulder $5.5billion annual bill

africa.businessinsider.com

Kokomheart@lemmy.caM to Cashless Society@lemmy.caEnglish · 3 months ago

South Africa’s Reserve Bank plans to overhaul the country’s cash ecosystem after finding consumers shoulder about $5

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A community for discussion and news regarding the evolving role of physical cash and digital payments worldwide. Topics include:

Varying Trends: The decline of cash usage in some regions (e.g., Sweden, Australia) versus its continued dominance or growth in others.
Digital Payment Systems: The development of contactless cards, mobile wallets, and real-time payment networks.
Central Bank Digital Currencies (CBDCs): Pilots, launches, and debates surrounding government-issued digital currencies.
Impacts & Implications: Economic, social, privacy, and accessibility considerations related to changing payment habits.
Alternative Systems: Mutual credit, local currencies, cryptocurrencies, and other non-traditional exchange methods.
Speculation about the future

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