Dispensing with cash
December 23, 2003 Edition -1
By the Editor
Starting a trend that looks certain to spread, a Cape wholesale company is refusing to accept cash as payment for goods, insisting instead on direct deposit into its bank account. The reason is the increasing number of armed robberies and high cash-in-transit costs.
Many retail businesses are also reported to be considering similar moves by encouraging the use of debit and credit cards. Of course, many would find it impossible to ban cash altogether, because so many South Africans do not have bank accounts.
Nevertheless, it is clear that, although still a long way off, as major step is being taken towards a cashless society.
