ATMIA's CEO on how cash benefits society
Aug 31, 2017
In ATMIA's most recent presentation, CEO Mike Lee reminds us of the many crucial social advantages to cash. Cash can be used by all people in society, so by nature, it is the most inclusive and thus societally important payment option.
But on a more individual level, people have a deeper sense of trust in cash than in any other option... and for good reason.
Excerpt from Cash is Good for Society by Mike Lee
'Cash will become more important in the cyber era as a bulwark against identity theft, card fraud, skimming, customer data compromises and the kind of global hacking which can render systems in the public and private sectors inoperable.
'You can’t hack cash in the hand. Nor can cash be used as a basis for identity theft. And it never leads to mass data compromises.
'In addition to these cyber benefits...
...cash is the number one back up plan when systems are down' (p. 6).