Neosurf: “Cash is not dead”

Neosurf CCO Andrea McGeachin sat down with SBC to discuss cash and digital payments, and what is to be expected from new markets such as the metaverse and esports. 

Coming fresh off a panel discussion on payments at Betting on Sports Europe, McGeachin shared what she believes is needed to create what she called a “payments utopia”.

McGeachin explained: “Our utopia is to allow all of the things we do have to check – that it’s you, that you are where you are living and that you’re not a fraudster – to have a user experience that is simple. 

“My utopia is to serve all of the regulations at the fullest, whilst making sure that the customer gets on with what they need to do. There’s lots of digital tools, and we have a strong science and AI behind the scenes.”

Going forward in the discussion, cash was also brought up as a point of interest. While digital transactions are all the rage today, Neosurf’s CCO remained positive that despite the new trends in payments, cash is certainly not dead. 

She continued: “The minute we think cash is dead, it’s going underground. That’s the worst bit. There are more Euros in circulation now than there was 10 years ago. Most of the people who say cash is dead are people who don’t have a need to use cash. 

“You’ve probably got a job, you’re probably in the country that you’re born in, you’re probably alright with your banking, and that’s great. That’s not the case for everybody.”

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Author: Peter Owens