Cashless Society, Person-To-Person Transactions Get One Step Closer

The cashless society through real-time person-to-person financial transactions are getting one step closer to reality.

Bank of America and U.S. Bank sign up for exchange system as calls from bankers around laud cashless society

Bank of America and U.S. Bank announced their alliance with Early Warning’s clearXchange network, enabling Bank of America customers, for instance, to immediately send cash to U.S. Bank customers. The combined reach of the program will offer the mobile banking application to 22 million customers throughout the U.S.

The move benchmarks a global challenge to cash, that awkward method of storing coins and...