Cash connects people

A year ago, a Spanish retiree’s viral campaign showed how banking’s rampant digitalization (accelerated by the Covid-19 pandemic) has increased senior adults’ financial exclusion.

On January 1, Croatia became the 20th member of the euro area. Euro banknotes and coins started circulating in the economy, and the Hrvatska Narodna Banka joined the Eurosystem and the Single Supervisory Mechanism.

Queen Elizabeth II’s passing marked the beginning of a complex redesign and updating of banknotes and coins in the United Kingdom and many countries worldwide.

The digitalisation of money negatively impacts social cohesion and financial inclusion. With digitalisation, the monetary system becomes more a private good than a public one – and one that risks leaving the most vulnerable behind.

Will robots use cash? At first glance this question seems too silly to warrant a response.

The International Mint Industry Association (IMIA) is a content and research-led association that protects inclusive, democratic, resilient and sustainable cash and coin access and acceptance.

Compared with the banknote industry, one of the defining characteristics of the mint industry is the level of cooperation between the various producers. Another has been its apparent stability. Perhaps the two are related. But whilst this stability is rapidly disappearing, the spirit of cooperation is not just alive and kicking but spreading throughout the cash community.

Across the world, cash is an ideal instrument to give donations, tips, and gifts.

This year, the U.S. Mint released the first pieces of U.S. currency to display a Black woman (Maya Angelou) and an Asian American icon (Anna May Wong).

Barclays is providing free cash access via local retailers and small businesses. Customers of all banks will be able to make free withdrawals from 1p up to £100, including non-round amounts. Companies offering the service will receive a payment for every transaction processed.

Elsewhere on the Web provides weekly updates and links to articles related to cash and money, curated on the web.

The Swiss firm Sonect obtained a fintech license to operate in Mexico in August, paving the way to bring innovative CashTech services to Latin America.