eCash Guide

eCash

Pay business bills, expenses, and invoices from vendors and freelancers

Become a freelancer

Use Due Cash payment system with anyone

You can make, share, or receive payments from anyone in the U.S. who has a phone number or email account regardless if they are actually using the Due Cash payment system and top digital wallet. All they need to do is create a Due account to claim or make their payment. Find others you know with a Due account simply by syncing your smartphone contacts.

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Next-generation digital payment technology

All personal and financial data is encrypted and protected on Due’s secure servers. We work tirelessly to ensure that our security system meets or even exceeds the current security industry standards.

Get Started Accepting eCash Today

Due allows you to accept eCash for your business.

We work with innovative digital payment companies from all over the world.

 

We’re here to help companies just like yours transition into the digital economy. New technology has introduced new payment methods such as ecash, cryptocash, and ACH transactions. Moving payments online, including invoicing, can save time and money while enhancing your cash flow.

 

State of the E-cash Industry

 

  • Purchase Transactions in 2014 vs. 2024 are generated by general purpose payment cards are projected to reach $515.42 billion by 2024.
  • Global mobile payment volume in 2012 was $163.1 billion and is expected to grow to $721.4 billion U.S. in 2017.
  • 80% of U.S. consumers surveyed use debit cards for everyday purchases over cash while 100% of those surveyed that were ages 18-24 used debit cards for everyday purchases.
  • On a 2013 Federal Government survey that found the number of cash transactions was high for low-dollar amount transactions while higher dollar purchases were dominated by electronic payments and checks.
  • As of January 2015, there are over 500 different types of cryptocurrencies – or altcoins – for trade in online markets.
  • Only 10 cryptocurrencies have market capitalizations over $10 million.
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THE ULTIMATE GUIDE TO THE

E-CASH INDUSTRY

The transfer of money certainly has come a long way over the centuries. We originally relied on a barter system where we exchanged some type of goods that we had personally produced-for goods which someone else produced-that we wanted or needed. For example, a farmer could trade some of his crop of rice to obtain a type of livestock-like a cow. The problem with this system was determining how much rice would be the fair amount in exchange a cow. That’s one of the reasons why we turned to the use of paper and coins as a currency. Unlike a crop or animal, paper and coin currency had a definite value attached to it that simplified the process of paying for goods and services.

 

Since then, the transfer of money has continued to evolve from gold and silver, to paper and coins to checks (also paper) to credit cards, and now forward to digital currency that is becoming more common in the 21st Century.

 

According to the Federal Reserve, it’s “estimated number of non-cash payments, excluding wire transfers, was 122.8 billion in 2012, with a value of $79.0 trillion.” But, why have people so quickly embraced the idea of using electronic cash?

 

For starters, electronic payments are actually much cheaper and more accurate than checks. Based on the 2015 Payments Cost Benchmarking Survey, “the estimated median cost of a check transaction is $3.00, compared with a range of between $0.26 and $0.50 per automatic clearing house (ACH) credit transaction and $1.50 for a purchasing card transaction.” Because of this significant price difference, two out of three finance professionals have stated that they will replace checks with electronic payments.

 

More importantly, as noted by Nina Gass, “Electronic cash was one of the first solutions to show consumers and businesses that it was safe, private, and very convenient to do transactions over the Internet.”

 

As technology has continued to evolve, electronic payments are seemingly becoming a way of the future that most of us use daily every time we use services like Due, PayPal, Square, or Apple Pay. In other words, eCash isn’t going to be going away any time soon. eCash will become more mainstream as more and more people get online, have access to mobile devices, and as the updated versions display continuous improvements to this electronic payment process.

 

Here is an informative guide to eCash. In this guide you will learn exactly what eCash is, it’s history, the components that make this system work, the great advantages, disadvantages, and current global regulations. This guide will conclude with what we can expect the future to hold for a Cash app.

Chapters - eCash

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