LONDON and SIOUX FALLS, S.D. (1/29/15)--Cash is not only still king, now it's also queen, according to the ATM Industry Association (ATMIA), which has launched a new video on social media about the continued need for cash.
The video focuses on a romantic date in a restaurant. When the bill comes, the man tries paying with a digital wallet on his phone and a credit card. Both are denied by the waiter, who points to the "cash only" decree on the menu.
The woman saves the day by pulling bills out of her wallet, paying the bill and quickly leaving her date behind.
"We wanted to create a fun video which folks of all ages can really enjoy," said Mike Lee, ATMIA CEO. "The scenario that plays out in the video is very plausible and shows that cash is not just king--but queen as well."
ATMIA's ATM Cash Council, which commissioned production of the video, looks at continuing international demand for cash in order to correct common misconceptions about cash.
"Cash will continue to play a dominant role in payments for decades to come," Lee added.