Cash covers a broad range of transactions

Post-pandemic, UK cash withdrawals have stabilized, but Nationwide Building Society saw a 10% increase in ATM usage in 2024. This rise is due to bank branch closures and the cost of living crisis, pushing more people to budget with cash. Nationwide's extensive branch network supports this trend. The British Retail Consortium reports a two-year increase in cash transactions, highlighting cash's importance in budgeting despite the prevalence of card payments.

It’s the holiday season—a time for joy, cheer, and Christmas gifts. The perennial dilemma reappears every year: gift or cash? Economic utility vs sentimental value: it's a debate as old as time.

New research highlights that cash not only influences how much we spend but also fosters a profound sense of psychological ownership that digital payments do not replicate.

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

Over the past few months, outages have brought down card payments in France (Wordline), Spain (Redsys), the U.K. (HSBC), Colombia (Bancaída), Uruguay (Fiserv) and now Australia (Wordline), to name but a few. Lloyds of London has warned that a major cyberattack on the global payments system could cost the world economy USD3.5 trillion. Can cash come to the rescue?

“No cash accepted” signs are excluding many unbanked and underbanked people. Insisting that all businesses accept cash is a simple way to ensure everyone is financially included in the modern economy.

For the first time in a decade, U.K. cash payments at the point of sale have increased as consumers turn to cash to better manage their budget during the cost-of-living crisis.

The rapid growth of e-commerce globally is often put forward as one explanation for the declining transactional use of cash and an argument in favour of CBDCs. But cash is widely used and increasingly accepted online. However, its usage is not measured.

A recent article from the Reserve Bank of Australia examines why cash usage has declined markedly since the mid-2000s through the interdependencies between cash use, cash access, and cash acceptance.

Numerous protests and petitions are calling for better access to and acceptance of cash worldwide. Could they reverse the decline in access to cash and help maintain its infrastructure?

The share of payments in cash declined slightly in 2022 to 18% of all payments. Store-of-value holdings of cash increased to $418 per person and remain far higher than pre-pandemic levels. 93% of consumers have no plan to stop using cash.

A recent IMF paper suggests that ATM cash withdrawals are better indicators of the use of cash for payments than the traditional metric of currency in circulation. However, the reasoning is somewhat biased and includes unconvincing arguments.