Guillaume Lepecq

It is often argued banks want to get rid of cash but here are ten reasons why they should support it.

SoCash, a Singaporean startup that turns shops into virtual bank branches, via a mobile app, has raised $6 million in funding, led by cash automation company Glory, with the participation of venture capital funds.

The euro was introduced to the world in 1999, though the notes were launched in 2002. It is today the currency of the 343 million citizens of the euro area. It is the second largest reserve currency and the second most traded currency in the foreign exchange market. As of end 2018, with more than €1.2 trillion of banknotes and coins in circulation, the euro has surpassed the U.S. dollar.

The Dutch government is putting forward a package of measures to Parliament, aimed at fighting against money laundering. Two of these measures specifically target cash: banning cash payments above and scrapping the €500 note.

As Facebook publishes its white paper on Libra, the code-name for its future global digital currency, it is probably timely to reflect on the value of privacy and more particularly the value of privacy in payments.

Words have been turned into weapons in the war on cash and are used by the proponents of the elimination of cash to create a self-fulfilling narrative of the inevitable decline of cash.

With the launch of Amazon PayCode, US customers now have it easier by purchasing their online shopping items with cash thanks to Amazon’s latest checkout payment option.

Cash Management Company Brink’s innovates with a new business model for ATMs in remote locations.

The startup called Blink, aims to transform the country’s 70,000 taxis into a mobile ATM network

China has been at the heart of payments innovation over the past decades leading some observers to boldly announce that cash is on its way out. But banknote demand is continuing to grow

In October 2017, the International Security Ligue became a partner of CashEssentials. Alf Göransson, Chairman of the International Security Ligue says, «It is high time for the industry to adopt a pro-active attitude towards the promotion of cash and support innovation within the cash cycle.»

The US Congress has published a comprehensive analysis of the state of cash in the US and explores the implications of the decline of cash usage for payments.

The Deutsche Bundesbank reports that there is no evidence that restricting cash usage is effective in limiting the illegal use of cash

Demonetisation has not fought, but has largely strengthened the informal economy. It has also probably further marginalised those without supportive networks. With cashless policies flourishing in various parts of the world, these findings have major implications, seriously questioning their merit, especially among the most marginalised segments of the population.

The Danish Central Bank has conducted a survey of the payment behaviour of Danish households in the Spring of 2017. The findings were published in December in 2017. The report concludes that while cash usage is declining and is expected to continue to do so in the future, Denmark is not becoming cashless and Danes will be able to use and hold cash in the future.

The paper attempts to reconcile the apparent contradiction between growing cash in circulation on the one hand and the decling relative share of payments made in cash on the other.

ESTA, the Association of Cash Management Companies, has responded to the EU public consultation on Cash Payment Limitations and concludes that cash payment limitations would contribute very little to the fight against terrorism. This is probably why none of the relevant counter-terrorism organisations, at national or international levels are proposing such measures.