NON-CASH PAYMENTS - TRENDS AND PROSPECTS

Abstract

For some time, cash is no longer the only method of payment for retail customers, alternative payment instruments like cards, direct debits or other means of making transactions being increasingly preferred by customers. Thus, the substitution of cash with noncash instruments and the role of paper-based and electronic payments have grown significantly lately. The purpose of this paper is to provide an overview on the latest developments in the use of non-cash instruments and issues related to recent innovations in retail payments.

Keywords

• non-cash transactions
• retail payments
• card payments
• direct debits
• credit transfers