Retail Industry
Industry: Email Alert RSS FeedShoe retailers shun the cashless society concept. (cash cards)(includes related article on pilot launch of Visa Cash cards in Atlanta, Georgia)
Footwear News, August, 1996 by MacDonald, Laurie
Shoe retailers are apprehensive about the benefits of cash cards. The idea of a cashless society is being perpetuated by bank and credit card companies. The cards offer the convenience of carrying less cash but do not offer any security benefits as they can be used without a personal identification number. Department stores are concerned that cash cards will relinquish their earnings on charge cards.
NEW YORK--Don't expect retailers to cash out anytime soon.
Despite the recent hype surrounding cash cards, significant questions remain about the tangible benefits for consumers and retailers. Though most industry observers concede cash cards clearly benefit banks -- which are not coincidentally behind the development of the technology and its marketing -- many said...
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