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Are we on track to become a cashless society?

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Australia and New Zealand have some of the lowest rates of cash used in the world, so what does it mean for businesses as consumer behaviours shift?

Bob Dylan once penned a famous song called “The Times They Are A-Changin'” back in 1963, and that title could not be truer 60 years later.

With the ability to move – and transact with – money without needing to have it in your hand, things have been progressing towards a cashless society.

Goods and services can be purchased at the tap of a card or a beep on your phone, and this trend has been noted in FIS Global‘s annual report, the Global Payment report.

“What we’re seeing at the moment is a clear trend of consumers moving towards digital alternative payment methods,” Senior Vice-President & General Manager, Global eCom, APAC at Worldpay from FIS Phil Pomford described to Ticker News Insight. “Customers are really looking for choice and convenience.

“If you look at the Buy Now, Pay Later scene, there’s been huge growth over time, and continue to maintain a sort of market share – around about 14 per cent – in the next three to four years.”

Pomford notes a transition from even using credit cards to having a digital wallet.

“Digital wallets have really overtaken credit card usage, especially online,” he adds. “And they’re now around about 31 per cent in Australia versus 28 per cent in the credit cards, and we think that trend will continue.”

So, what does the future of the cashless society start to look like a few more years down the track?

“We’ll see an evolution of the Buy Now Pay Later space with some regulations, obviously, coming down the pipe as well,” Pomford revealed.

“It will still remain a really strong popular choice to consumers.”

If that’s the consumer side, what about business merchants? How are they preparing their companies for this new ‘way’ of doing things without exchanging physical cash or swiping cards?

“I think it’s critical that businesses merchants, as we call them, really do stay ahead of the trends,” Pomford asserts. “They need to be aware of what, and where, consumers are moving towards.

“For example, making sure you’re providing the right wallets for your consumers to use in your market – that might be Apple Pay or Samsung Pay just to name a few.

“It is also ensuring you invest in your technology, making sure it is a seamless, safe and convenient experience for the consumer.”

For more information about FIS Global, head to their website, or view more information about the report here.

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The ‘invisible killers’ causing concern

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Companies and Governments are looking to turn awareness into action

The natural world is home to a diverse range of species that live in harmony with each other. However, the increasing use of pesticides, microplastics, and air pollution has been causing concerns about the impact on the environment and its inhabitants. These “silent killers” are threatening the delicate balance of the natural world, and the consequences could be catastrophic.

The concerns surrounding these “silent killers” highlight the need for greater awareness and action. Governments and industries are encouraged to take responsibility for their actions and work towards reducing their impact on the environment. Individuals can also play a role by making conscious decisions to reduce their use of pesticides, plastic products, and contributing to air pollution. Simple actions such as using organic products, reducing plastic use, and utilising alternative transportation can make a significant difference.

The Green Edition is presented by The ROOT Brands.For all media inquiries please get in touch here: tshuvah4u@yahoo.com

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How small businesses are using AI to fight back against big business

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AI demonstrates efficacy in capital acquisition within Australian startups.

One of the most impactful technology trends of 2024 is the proliferation of Artificial Intelligence tools.

One company is using AI to help founders raise capital for the next generation of game-changing innovation without the need for external human intervention.

To find out how it works, we’re joined by VentureCrowd CEO Steve Maarbani. #FUNDING FUTURES

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Why somatic therapists are the missing piece in workplace wellbeing

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As organisations strive to enhance employee wellbeing, the emergence of somatic therapy presents a novel approach often overlooked.

Somatic therapy, a holistic approach that emphasises the connection between the mind and body, is gaining recognition for its profound impact on individual wellness.

Somatic therapists work with individuals to address physical sensations and emotions, promoting self-awareness and resilience.

Workplace wellbeing initiatives have often focused solely on physical health or mental wellness programs, overlooking the intricate interplay between the two.

This oversight is where somatic therapy steps in, bridging the gap by addressing both physical and psychological aspects concurrently.

Amanda Goodfellow, Director of Agile Mind, shares her personal insights on the benefits of somatic therapy. #business #health #workplace #therapy

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