Tag Archives: Cash

A widely shared post that details how 50 people protested against a cashless supermarket in France leading to the retailer reinstating cash has resurfaced on Facebook.

One version of the post has been shared at least 14,000 times.

But there’s no evidence this protest ever took place and, regardless, all businesses in France legally must accept cash, with only a handful of limited exceptions.

Claims surrounding cashless payments, a global central banking system and digital currency are extremely popular on social media and we have fact checked them many times before.

In this instance, the post explains how “a group of 50 people got together and agreed that they would all do a big shop on the same day” at a “very well known supermarket” before insisting on…

A widely shared Facebook post claims that a debt will be written off if legal tender—cash—is offered but refused. However, this isn’t the case.

The post, which has been shared over 500 times, says: “Did you know? If you offer legal tender to clear a debt and it is refused, the debt is cleared from that moment. 

“So if you go into a petrol station and fill up with £100 and offer to pay with legal tender and they refuse it, they are clearing the debt and you now owe nothing.”

However, there is no obligation on businesses to accept cash payments. Legal tender has a narrow definition, meaning that you cannot be sued for non-payment if you pay ‘into court’ in legal tender. This does not apply to normal transactions. 

Anand Mahindra shared a video of a unique ATM that works via UPI apps.

This ATM was unveiled at the recently held Global Fintech Fest in Mumbai.

Swift progress in digitisation

The Chairman of Mahindra Group wrote, “His UPI ATM was unveiled at the Global Fintech Fest 2023 in Mumbai on September 5. The speed at which India is digitising financial services & making them consumer-centric as opposed to corporate-centric (Alarm bell for credit card companies?) is simply dazzling. (I just have to make SURE I don’t misplace my cellphone!”.

Praveena Rai, chief operating officer of NPCI, said UPI-ATMs will help re-imagine ATMs and the ATM experience, cost, location, and reach.

White Label ATM

Hitachi Payment Services introduced the country’s first-ever UPI-ATM as a White Label ATM…