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Gordon McKie, CEO of Cashmaster, shares his thoughts on the key factors to become successful in Asia and the potential for growth in the region: "Taiwan is proving to be fertile ground for our products and we are exploring other areas such as Singapore, Vietnam, Thailand, and Malaysia; these efforts are generating interest. To meet anticipated demand in the region, we seek to appoint local partners to assist us in identifying new customers and achieving further growth."

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Taiwan's government has cashless ambitions. One target the government has set to facilitate the move to a cashless society is for 90% of smartphone users to be using mobile payments by 2025. However, consumers and businesses in Taiwan have proven resistant to mobile payment forms, instead preferring to rely on more traditional payment methods.

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The Canadian Convenience Store Association (CCSA) reports that despite the wide range of payment options available to consumers in Canada, cash is still one of the most popular methods for everyday usage in retail. For low value transactions, cash is still the preferred method of payment for 51% of Canadians.

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As more restaurants go cashless, a backlash is building, especially in the nation’s capital, where an increasing number of fast-casual eateries are only accepting credit or debit cards and mobile payments, the Washington Post reports. The realization that cash plays an important part in business, the economy and society as a whole is increasingly taking hold of the cashless narrative. The choice to pay by cash is made for many reasons: privacy, convenience and sometimes, for the most vulnerable members of society in particular - need. Maintaining choice seems to be good for all.

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