12 Feb '14, 11am

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PAYING by cash is still the preferred mode of payment for most Singapore consumers, with credit cards a close second, a Nielsen global survey found. The study on saving and investment strategies, which polled 30,000 respondents across 60 countries revealed that some 40 per cent of Singapore consumers chose cash, compared to 39 per cent who preferred credit cards and 14 per cent who preferred debit cards. Only two per cent preferred to pay with pre-paid cards. For the rest of South-east Asia, cash also trumps other modes of payment as seen in the Philippines (74 per cent), Thailand (68 per cent), Vietnam (61 per cent), Malaysia (60 per cent) and Indonesia (51 per cent). "Reliance on cash payment is usually associated with lower GDP growth in developing economies even if alternatives (such as mobile payments) are readily available. Hence, educating consumers to increase reli...

Full article: http://www.cpf.gov.sg/imsavvy/infohub_article.asp?readid=...

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The secret ingredient to slow food: slow cash

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grist.org 13 Feb '14, 9am

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