Is cash dead? If your answer is yes you’re missing the point… and millions of customers
By Cat Denoon-Stevens, Head of Product Incubation at Mukuru
Is cash truly dead? With the rapid rise of fintech innovations and digital payment solutions, one might think so. Yet, despite the digital revolution sweeping across African societies, cash remains very much alive—and for millions, it is still the preferred way to transact.
With the massive influx of fintech companies constantly innovating to bring accessible products and services to the underserved and unbanked in African societies, one might be tempted to declare that cash is dead, or that if it isn’t dead yet, it is on its very last legs. However, fintechs that are well-embedded in Africa and other emerging markets will be well aware that cash is, in fact, alive and well. In many instances, it is the primary form of tender....
