BANKERS ADVOCATE’ CASHLESS SOCIETY’ECONOMIC uncertainty around the globe has raised concerns that consumers could take cash out of banks-especially in negative interest rate environment-and board it.Eliminating cash therefore is one way to reduce that risk, according to the Bankers Association of Zambia (BAZ) Public Relations Officer, Miriam Zimba.Ms Zimba indicated that countries such as Denmark, Sweden and Norway were already considering this, while the European Union Central Bank was considering getting rid of large-denomination bills.She observed that efforts towards the realisation of a digital economy lied in the continuous research and development of innovative solutions for digital financial services (DFS).“The shift towards the uptake of DFS is one such avenue that will bring the Zambian economy a step closer towards becoming a ‘Cashless Society’, which brings to fruition the realisation of a digital economy,” Ms Zimba said in her write up on the Digital Banking as an Alternative to Cash Transactions.She however said the rise […]
BANKERS ADVOCATE’ CASHLESS SOCIETY’
