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Early “Frictions” in the Transition towards Cashless Payments

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  • Batiz-Lazo, Bernardo
  • Buckley, Tom

Abstract

In this article we describe the trials and tribulations in the early stages to introduce cashless retail payments in the USA. We compare efforts by financial service firms and retailers. We then document the ephemeral life of one of these innovations, colloquially known as “Hinky Dinky”. We conclude with a brief reflection on the lessons these historical developments offer to the future of digital payments.

Suggested Citation

  • Batiz-Lazo, Bernardo & Buckley, Tom, 2021. "Early “Frictions” in the Transition towards Cashless Payments," MPRA Paper 108834, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:108834
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    File URL: https://mpra.ub.uni-muenchen.de/108834/1/MPRA_paper_108834.pdf
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    cashless; payments; innovation; USA; Hinky Dinky;
    All these keywords.

    JEL classification:

    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • L81 - Industrial Organization - - Industry Studies: Services - - - Retail and Wholesale Trade; e-Commerce
    • N2 - Economic History - - Financial Markets and Institutions
    • N8 - Economic History - - Micro-Business History

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