Week in Insights: The Cashless Future Is Coming From Greece

Curated by Daniel Xu

Digital transactions are swiftly catching up to cash exchanges. A cashless future seems inevitable, not just possible. The first move may have already been made by Greece, a country that has struggled with its fair share of economic challenges and tax evasion issues.

Greece’s government has attempted to curb tax evasion by banning cash for transactions exceeding 500 euros (about $540). The new policy took effect this year and includes steep fines of up to a doubling of the underlying transaction amount.

Simultaneously, Greece has moved toward a “point of sale everywhere” policy, ...