News

The European Central Bank (ECB) has announced plans to redesign euro banknotes, working with European citizens in a process that is expected to lead to a final decision in 2024.

A paper by Ashworth and Goodhart shows that the pandemic fuelled a remarkable surge in currency in circulation, with cash once again defying premature obituaries of its demise. In a major crisis people still want to retreat to the security and safety of holding bank notes, to provide reassurance.

A new bill would preserve the right of Americans to pay cash and would prevent merchants from rejecting it. It is gaining bipartisan support in Congress.

The Reserve Bank is seeking views from interested parties on what changes might be required to ensure that banknote distribution is effective, efficient, sustainable and resilient – both now and into the future.

De Nederlandsche Bank (DNB) calls on stakeholders in the payment chain to enter into agreements to ensure that cash remains readily accessible and available in the Netherlands in the next five years.

Amazon has announced it will stop accepting Visa credit cards issued in the UK, blaming the rising cost of merchant fees.

Glitches marred the adoption of bitcoin as legal tender in El Salvador, causing anger and anxiety to customers and retailers.

Worldwide, Uber accepts cash payments in more than 400 cities; however, some governments have restricted cash payments, eliminating the option for many riders. New research based on a number of experiments in Mexico, reveals that cash payments for Uber rides account for a consumer surplus of 50 percent

New legislation in Spain protects freedom of payment choice and guarantees consumer rights by allowing consumers to pay with cash anytime and everywhere.

As the number of bank-operated ATMs continues to decline in France, new solutions are enabling access to cash throughout the territory. ATMs are due to be installed in tobacco shops as part of a pilot programme.

El Salvador has become the first country to make bitcoin legal tender, hoping to increase financial inclusion. Critics fear it will become a vigilance tool for the government.

The Better Than Cash Alliance’s ‘UN Principles for Responsible Digital Payments’ demonstrate that digital payments have a long way to go before they become better than cash in all aspects. More than ever, cash is essential in a diversified and sustainable monetary system.