Cash does not require a technology infrastructure

The CashTech Innovation Awards recognize innovations that enhance access to and acceptance of cash; as well as improve the overall efficiency of the cash cycle. CashTech is at the intersection of cash and technology. It brings together innovative companies that leverage new technologies to improve cash services.

On International Women's Day, it's imperative to recognize that access to cash is not merely a financial issue but a fundamental right that underpins women's autonomy, safety, and equality. Cash serves as a tangible instrument of empowerment, enabling women to exercise control over their lives and make independent choices.

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.

CashEssentials was honored to hold a seminar on the Future of Cash at the High-Security Printing Conference in Bangkok last week. We asked participants how they imagine the future of cash.

The LINK scheme processes an average of 4 million cash withdrawals and balance enquiries every day and ATMs account for around 90% of cash acquisition in the UK. Here’s five things you ought to know about LINK from their just published annual report.

Domestic ATM cash withdrawals are subject to interchange fees, which are designed to compensate ATM deployers for operational costs. These fees have remained largely unchanged for years, in spite of rising operational costs. This divergence poses a threat to the sustainability of ATM networks.

As the number of ATMs has significantly decreased in recent years, SIX and Diebold Nixdorf are entering into a cooperation to secure the long-term cash supply through ATM pooling. However, the Swiss Post also aims to be the sole ATM operator.

The Federal Reserve Bank of New York (FRBNY) has announced that it plans to transition its cash operations in East Rutherford, New Jersey (NJ) to a new next-generation cash services centre within the Second District.

As a worldwide partner to the Paris 2024 Olympic and Paralympic Games, Visa has a monopoly on all debit, credit and mobile payments. Spectators are venting their frustration. Paradoxically, the campaign demonstrates the importance of cash in terms of inclusion, protection of privacy and resilience.

The media often overlooks the downsides of digital money services. A powerful narrative that exaggerates the benefits and conceals the downsides supports the growth of fintech in Africa.

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?

Digital payments become a nightmare after losing your mobile phone, as I learned from two robberies in London last year.