Mastercard Is Wrong: Cash Is NOT Dirty, 95% Want To Keep Cash
Mastercard’s recent media release and the associated public statements about “the dirtiness of cash” from Executive Vice President, Sandeep Malhotra risk being potentially misleading and are inconsistent with public health advice.
Cash is not dirty and cash is not more likely than a plastic card or ETFPOS terminal to carry viruses such as COVID-19.
Cash withdrawn from an ATM is stored and sanitised before being dispensed. Credit cards and EFTPOS terminals can carry and transmit viruses.
“Mastercard, Visa, American Express, Apple, Google, the banks and merchants are surcharging cashless transactions and profiting from a misplaced fear of cash,” said Tim Wildash, Chief Executive Officer of Next Payments, Australia and New Zealand’s leading independent ATM supplier.
Contrary to Mastercard’s survey results, recent market research from Next Payments shows more than 95% of consumers want to keep the right to pay with cash.
More than 84% say cash-bans by retailers are unfair and 59% of consumers say they are discouraged from shopping at retailers that do not accept cash.
76 per cent say they are concerned about hidden card fees while 74 per cent say cash is the most reliable form of payment according to the ongoing survey of over 600 people conducted in April, May and June in all states.
“Mastercard is profiting from encouraging people to choose card payments while cash remains surcharge-free, private and reliable,” said Tim Wildash.
“Consumers don’t want their right to pay with cash taken away. Cash is reliable, free, private and flexible. Cash is used by the old, the young and the 500,000 Australians who do not even have a debit card.
“New Zealanders rushed back to cash when social distancing restrictions were partially lifted two weeks ago.”
There is no evidence linking cash to the transmission of COVID-19. Cash is sanitised before being delivered by cash companies to venues and ATM operators. Next Payments has issued advice to ATM owners and venue operators about how to ensure their cash machines remain clean and disease free.