… Horacio Mendez, CEO of the Woodstock Institute, says cashless systems are attractive because the infrastructure required to handle cash is costly. “You’ve got ATMs, armored trucks, having to go to the bank, opening, closing and counting cash drawers … According to some fairly recent research, cash costs on average about 9% of cash received,” he said.

Read the report by Nick Blumberg & watch the segment from March 9