Cash has been around for over 5,000 years, with the first coins being used in China around 770 BC. Today, cash remains a fundamental aspect of daily life for many consumers, offering a tangible and universally accepted form of payment. In Spain, as in many other European countries, the role of cash for retail payments has evolved in response to new technology and changing consumer ...

Digital payment methods are gaining in popularity in Germany, but the country is unusual among its European neighbours. Cash is still the dominant payment method and is used for 58% of everyday transactions when paying for both goods and services. Debit cards are the second most popular method of payment.In this article, we explore the reasons and cultural preferences for continued cash usage in Germany ...

The short answer is: Yes. Businesses and shops in the UK can refuse cash payment. They can also reject other forms of payment. The 'legal tender' misconception There is common misconception that cash is 'legal tender' that cannot be refused as payment.However, 'legal tender' has a narrow definition...For example, if a court rules that you owe a debt, and you offer to pay in legal ...

In business operations, every minute counts. So, imagine the time saved by accurately counting stacks of cash in mere seconds. Money counters enable this. They are indispensable to a wide range of industries, even in today's digital age. But how do these machines work? Let's find out. What is a money counter? A money counter (sometimes known as a coin counter or cash counting ...

Cash plays a crucial role in retail payments. The European Payments Council state that cash is still the first method of retail payment in several European countries, though its share among retail payments is decreasing. Despite this, the UK witnessed a notable surge in the total number of cash payments in 2022. £6.4 billion GBP was spent, compared to the previous year's £6 billion, ...

Coins still play a vital role in many businesses’ everyday transactions, even in our digital age. But counting them by hand them can be an error-prone and time-consuming process. Luckily, coin counting scales can solve this. Let’s look at how they work, reduce manual processing errors, and more. What are coin counting scales? Coin counting scales are devices that accurately ...

According to the Bank of International Settlements (BIS), digital payments have made gains, but cash remains a steady and popular method of payment.The BIS also states that interoperability of payment systems is key for seamless payments - regardless of the chosen payment method.So, cash remains essential, especially for businesses working in retail, hospitality and travel.Therefore, it's crucial to understand the significance and functioning of the ...

Whether you are a bank or a small business, you need to dispense cash to your customers with efficiency and accuracy. This is where cash recyclers can help. But what are they? How do they work? And what benefits do they offer? Let's find out. What is a cash recycler? A cash recycler is a machine used by businesses and ...

Protecting cash and valuable items has always been essential for individuals and businesses. Because of this, the design and technology used by safes have changed a lot throughout history. They’ve gone from simple wooden boxes to reinforced iron containers with sophisticated combination locks. Today, they have developed even further into smart safes. What are smart safes? Smart safes are a ...

Throughout history, humanity has sought ways to protect its treasures.This is why safes and vaults have been used across the globe for millennia.Safes have evolved from wooden boxes with simple locks to reinforced fire-resistant containers with complex electronic and even biometric locks.And vaults have developed from temple roofs to sophisticated underground climate-controlled facilities in the arctic circle...In this blog, we highlight the evolution and history ...