Cash is dead! Long Live Cash!
Comments(0) Maestro have recently been running a campaign heralding in a new era where ‘cash is dead’. Anyone who has had the deep misfortune of travelling on the tube recently may have seen this ad campaign which tracks the history of ‘cash’ or cash equivalents throughout time, arriving at today where maestro is ‘the new cash’.
Meanwhile Barclays (aided by Visa - pretty much Maestro’s nemesis) launched their ‘One Pulse’ card which combines a Credit Card, Oyster Card (London underground pass) and Contactless Card. The Contactless card allows the holder to make transactions under £10 without the need of entering a pin, simply by tapping it against a secure reader in participating stores. So not only is this replacing the need for loose change, it’s also bringing three cards together in one, madness I hear you say.
Whilst it can not be disputed that there has been a shift towards debit and credit card transactions in the last couple of years, Bank of England statistics show that between 2004-2006 M0 (coins and notes in circulation) has continued to grow.
