Editor’s note: Simon Black is CEO at London-based Sage Pay.
Picture the scene. It’s 2020. You’re at the checkout in a convenience store with a carton of milk. But you’ve got no cash and you’ve left your cards at home. No problem. You scan your right index finger; the green light flashes. Purchase approved and you leave. Easy.
Is this a realistic vision of the future, or are we only ever likely to see such scenes in science-fiction movies such as Minority Report? Predicting the future is never easy, but I believe that new technologies will prove the death knell for cash. We’re not there yet, but a cashless society is not as fanciful as it seems. Recent research suggests that many believe we will stop using notes and coins altogether in the not-too-distant future.
New payments technologies are rapidly transforming our lives. Today in the U.S., 66 percent of…
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