In January 2017, the ATM International Association (ATMIA) announced the launch of their latest pro-cash initiative, Withdraw Cash Wednesdays, with the aim of 'encouraging consumers to increase cash usage for their holiday shopping in 2017 and beyond'.
This means that every Wednesday is now #WCW, the next one coming up on 28th June 2017. However, the first big #WithdrawCashWednesday holiday day was the Think Green WCW on 17th March 2017 for St Patrick's Day. Now, the campaign has set its sights on 22nd November 2017 for Black Friday. Mark your calendars!
The movement came to be during the International Marketing Forum of the 2016 US Conference. As a result of the panel's desire to "assist consumers in budgeting, a pro-cash holiday was born", Raymond Ching tells ATMIA.
The idea behind the campaign is to encourage consumers to commit to cash for holiday season shopping primarily because it is better for budgeting. Instead of having a risking dangerous denial (usually risked when online shopping or tapping your savings away), you can physically set aside a responsible amount of cash for all your holiday shopping. #GuiltFreeShopping
When you can see and hold your budget in your hands, you naturally feel more selective about their purchases as you're more likely to think twice before handing over your last banknotes. Not only does this make budgeting easier, but it also means the gift recipient will (hopefully!) be able to tell that thought was put into their present.
"This campaign is a leap forward in promoting the positive role of cash for consumers, businesses and for the healthy functioning of the US economy in 2017 and beyond. Our simple narrative is that cash is good."
IMF chairperson Alicia Blanda, CEO of Blanda Marketing and Public Relations, points out, “it is important to raise awareness about the convenience and safety cash provides for consumers.”
Benefits of cash usage include:
- Helping consumers stay within budget. Cash provides a tactile and visual evaluation of available funds.
- Saving time. Many retailers have cash only lines for checkout.
- Zero interest fees. By using cash, consumers save money after the holidays by reducing interest fee charges.
- Security. Considering the number of recent data breaches at trusted stores such as Target, Home Depot and others, security is top of mind for many consumers. Using cash prevents criminals from stealing card data to make fraudulent transactions from the point of sale.
“A cashless society is a myth today and for the foreseeable future...[and we] believe consumers have the right to use the payment method of their choice – including cash."
If you'd like to support the cause as a consumer, simply get your cash out from cash machines, ATMs or magic money trees on Wednesdays! Join the social media party by tweeting about your experience using the hashtag #WithdrawCashWednesday (throw in a #CashMatters for good measure) and you're on your way.
"Campaign Page: Withdraw Cash Wednesday". ATMIA. Accessed June 22, 2017. Web.
'ATMIA is the leading non-profit trade association representing the entire global ATM industry. ATMIA serves more than 8,000 members from over 650 participating companies in 65 countries spanning the whole ATM ecosphere, including financial institutions, independent ATM deployers, equipment manufacturers, processors and a plethora of ATM service and value-added solution providers. ATMIA provides education, advocacy and connections to help its members keep abreast of industry news and developments; increase knowledge and professionalism; improve operational efficiencies; understand and influence regulatory processes; participate in the local, regional and global ATM community; and forge new relationships to advance their businesses. Founded in 1997, ATMIA has active chapters in the United States, Canada, Europe, Latin America, Asia-Pacific, Asia, Africa, India and the Middle East focusing on the unique needs and issues of each region. For more information, please visit atmia.com. Follow us on LinkedIn, Twitter or YouTube.'