At SmartCard Marketing Systems Inc (OTC:SMKG) #PAAS + #Payments, we are constantly expanding our Payout capabilities, and yes, cash is still critical in many emerging and mature markets.
#Cardless #Atmwithdrawl #Cash #Offramp #Funds #Payout #Collections
AXEPAY Inc. Fintech/Paytech Global Solutions and Cross-Border + XPay. Worldwide Corporation + Premise Fintech
#Cardless #Atmwithdrawl #Cash #Offramp #Funds #Payout #Collections
AXEPAY Inc. Fintech/Paytech Global Solutions and Cross-Border + XPay. Worldwide Corporation + Premise Fintech
#Payout by #ATM as Cash remains #King a dominant and preferred method of transaction in many #emergingmarkets for several reasons: #Accessibility ✅ + #offramping + #remittances + #charity
1. Limited Banking Infrastructure: In many emerging economies, banking facilities are less accessible. A significant portion of the population lacks bank accounts or access to financial services, making cash the most viable means for transactions.
2. Trust Issues with Financial Institutions: Many individuals in emerging markets exhibit skepticism towards banks and financial systems, often due to past crises or perceived corruption. Cash transactions feel more secure as they avoid potential institutional risks.
3. Cultural Preferences: In several cultures, cash is deeply ingrained as a means of exchange. It is often associated with tangible value, whereas digital transactions may not be as trusted or understood.
4. Economic Instability: Fluctuations in currency value and inflation can lead people to prefer holding cash as a more stable form of value compared to volatile digital currencies or bank savings.
5. Transaction Costs: In some cases, the costs associated with electronic payments, such as fees for card usage or mobile payments, can deter consumers. Cash transactions do not incur these additional costs, making them more appealing, particularly for small purchases.
6. Informal Economy: A significant portion of commerce in emerging markets occurs in informal settings where cash is the primary medium of exchange. Many small businesses and vendors operate outside the formal banking system, reinforcing cash's dominance.
7. Technological Barriers: Although mobile payment technologies are growing, not everyone has access to smartphones or reliable internet connections, limiting the adoption of digital payment methods in certain areas.
8. Government Policies: Some governments may favor cash transactions due to ease of tax collection and regulation in the formal economy, which can encourage citizens to use cash.
9. Adaptation and Resilience: Cash has proven to be a resilient method of payment even during crises, such as the COVID-19 pandemic, where digital payments gained traction but cash remained crucial for many, particularly where digital literacy or infrastructure was lacking.
SmartCard Marketing Systems Inc (OTC:SMKG) + AXEPAY Inc. Fintech/Paytech Global Solutions and Cross-Border + Premise Fintech
1. Limited Banking Infrastructure: In many emerging economies, banking facilities are less accessible. A significant portion of the population lacks bank accounts or access to financial services, making cash the most viable means for transactions.
2. Trust Issues with Financial Institutions: Many individuals in emerging markets exhibit skepticism towards banks and financial systems, often due to past crises or perceived corruption. Cash transactions feel more secure as they avoid potential institutional risks.
3. Cultural Preferences: In several cultures, cash is deeply ingrained as a means of exchange. It is often associated with tangible value, whereas digital transactions may not be as trusted or understood.
4. Economic Instability: Fluctuations in currency value and inflation can lead people to prefer holding cash as a more stable form of value compared to volatile digital currencies or bank savings.
5. Transaction Costs: In some cases, the costs associated with electronic payments, such as fees for card usage or mobile payments, can deter consumers. Cash transactions do not incur these additional costs, making them more appealing, particularly for small purchases.
6. Informal Economy: A significant portion of commerce in emerging markets occurs in informal settings where cash is the primary medium of exchange. Many small businesses and vendors operate outside the formal banking system, reinforcing cash's dominance.
7. Technological Barriers: Although mobile payment technologies are growing, not everyone has access to smartphones or reliable internet connections, limiting the adoption of digital payment methods in certain areas.
8. Government Policies: Some governments may favor cash transactions due to ease of tax collection and regulation in the formal economy, which can encourage citizens to use cash.
9. Adaptation and Resilience: Cash has proven to be a resilient method of payment even during crises, such as the COVID-19 pandemic, where digital payments gained traction but cash remained crucial for many, particularly where digital literacy or infrastructure was lacking.
SmartCard Marketing Systems Inc (OTC:SMKG) + AXEPAY Inc. Fintech/Paytech Global Solutions and Cross-Border + Premise Fintech