Cash does not require a technology infrastructure

Russia has made its digital ruble legal tender, compulsory for the country's biggest banks and retailers — the most forceful CBDC push anywhere. So far, the public's answer has been a record boom in cash. The gap between mandated infrastructure and voluntary behaviour is the story.

When a major Swiss retailer's card system failed nationwide for almost a full day, consumers did not switch stores or delay purchases — they rushed to ATMs. A new SNB working paper quantifies, for the first time, how cash infrastructure absorbs the shock when digital payments go dark.

The South African Reserve Bank has published a two-part Cost of Cash study quantifying the full price of banknotes and coins at roughly ZAR88.5 billion a year or approximately USD5 billion. Far from arguing for the abolition od cash, the study gives policymakers the tools to make a payment instrument millions depend on cheaper, safer and more resilient.

Denaria Europe unveils three novel metrics — the Cash Health Index for Europe (CHIE), the Cash Acceptance Thermometer (CAT), and the Monetary Exclusion Risk Index (MERI) — that turn scattered cash data into a quarterly, media-ready system for tracking the state of cash across the euro area.

The European Central Bank’s survey on the use of cash by companies reveals two insights: 92% of companies with physical points of sale accept cash in 2026—a slight rebound from the 90% recorded in 2024 ; cash is not just accepted but often preferred—outperforming digital payments on nearly every criterion, from privacy to reliability.

Why do headlines claim the world is racing to become cashless? Digital payments growth doesn't equal elimination of cash. Language shapes public perception, and no nation has voluntarily abandoned cash. The cashless myth thrives on constant repetition, not on the actual economic reality.

The South African Reserve Bank’s (SARB) Cash Smart Strategy introduces a pioneering regulatory framework focused on affordable, accessible, and ethical cash. Key innovations include a national cash utility, white-label ATMs, and universal service obligations to prevent “cash deserts.”

The Netherlands, despite being a low-cash country, has successfully maintained the stability of cash acceptance through targeted policies and measures implemented by the central bank and government, ensuring that cash remains a viable and inclusive payment method.

Do we really know what accepting payments really entails for retailers? Why are some retailers or customers reluctant to use cards? What role does cash play? Find out from retailers’ own experiences.

Banknotes remain a cornerstone of national health security, ensuring resilience, accessibility, and trust. Cash protects societies from digital vulnerabilities while promoting financial inclusion for all citizens, particularly during emergencies when offline options are critical.

Planning to sail across the Atlantic? Don’t forget your GPS, your satphone… and your cash. Even in the middle of the ocean, some things just can’t be paid for without cash.

A new study reveals significant differences in cash access between France and Switzerland, with average tra-vel distances to cash points at 1.6 km and 1.4 km respectively. While both countries maintain strong overall access, rural disparities and the crucial role of post offices highlight the need for diverse cash infrastructure to ensure universal access.