Cash does not require a technology infrastructure

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.

The digital revolution promised convenience, efficiency, and progress, but as cyber threats, addiction, and social fragmentation rise, its dark side is becoming impossible to ignore. Can a hybrid payment future truly balance digital innovation with cash resilience? And as cash usage declines, who will fund the infrastructure that keeps it viable? The future of payments demands a radical rethinking of how we preserve inclusion, trust, and choice.

As geopolitical storms reshape global finance, cash is evolving into a strategic tool for sovereignty, resilience, and trust in an era of fragmentation and digital vulnerability.

A new white paper, Solving the ATM Paradox: A Policy Roadmap for the Future of Cash, co-authored by Guillaume Lepecq and Matt Sykes, exposes the alarming decline of ATM networks worldwide—despite rising demand for cash—and proposes concrete solutions to safeguard access to cash for all.

"Are banks still ‘where the money is’? Globally, legislation increasingly recognises the right to access to cash and the obligation to accept it—but fails to guarantee the infrastructure. Without binding obligations, cash risks disappearing by default, not by choice. Time to rethink financial inclusion, economic resilience and territorial equity?

Indian banks are planning to deploy 17,350 new ATMs—75% cash recyclers—over six months, led by state-run banks, to boost efficiency and fill gaps, blending tech innovation with enduring cash demand.

The Netherlands are taking bold steps to future-proof cash: stricter access laws, frozen fees, and even mandatory acceptance. The new cash resilience plan—includes a war room for crises and a public campaign urging citizens to keep cash for emergencies. This is a blueprint for the future viability of cash.

Visa and Mastercard have agreed to jointly pay $167.5m to settle a class-action lawsuit accusing them of conspiring to keep ATM access fees artificially high. The settlement, highlights antitrust concerns and the urgent need for ATM interchange fee reform to sustain ATM networks.

The fragility of IT systems has been starkly exposed by recent high-profile outages. The AWS crash in October 2025, Spain’s power outage in June 2025, and the global CrowdStrike Falcon Sensor outage in July 2024 have disrupted payment systems worldwide, costing the global economy billions annually. These incidents underscore the irreplaceable role of cash as a backup when digital payments fail.

120 ATMs are being installed in a joint initiative by the Oesterreichische Nationalbank (OeNB) and the Austrian Association of Municipalities, aimed at closing gaps in the nationwide cash supply chain in rural areas. The first device was inaugurated on 1 July.

The Riksbank supports the proposal for an obligation to accept cash in the sale of essential goods, and to strengthen the banks' responsibility for cash handling. Cash is essential for economic and social inclusion, and for the resilience of the payment system.

Cash remains vital in Germany despite declining usage. A Bundesbank study reveals its importance for reliability, inclusion, and education. While digital payments rise, cash's unique benefits ensure its continued relevance.