Sourced from thersa.org

Until a couple of years ago, most people would have thought that cash was vanishing. Cheques and plastic cards, Internet banking and PayPal, we now know that technology will not consign cash to the empty jar of history, but the mobile phone.

Around the world from Kenya to the Philippines, from California to the UK (where Orange has just launched its first Oyster-style tap-and-go phone with Barclaycard) the evidence is compelling.

If we do away with notes and coins as the means of exchange, the cost of transacting in alternative currencies will fall. If your currency choice is just a menu on your mobile phone, then why would you choose to get paid in Sterling, or Euros, or gold, or BA Miles or Tesco Clubcard Points?

Tune in on RSA’s money expert Dave Birch, specialist consultant and media commentator on electronic business issues, and director, Consult Hyperion. As well as Diane Coyle, vice-chair, BBC Trust and managing director, Enlightenment Economics.

ARB Team
Arbitrage Magazine
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