Cash is a contingency and fall-back solution

Nearly 1 in 4 women in France experience economic violence from their partners, often as an initial form of abuse. 28% of women in a relationship lack a personal bank account. 72% of women suffering economic violence also endure verbal or physical abuse, illustrating the interconnected nature of these violences. Cash remains a critical resource enabling women to escape abusive relationships when digital finances are controlled or monitored. Cash accessibility must be preserved to ensure immediate autonomy.

Global banknote demand is rebounding post-pandemic, returning to pre-2020 trends. The introduction of new high-denomination notes has slowed, yet cash remains vital as a store of value. Cash infrastructure must adapt to declining transactional use and rising precautionary demand.

Over the past two years (2023–2025), the world has faced persistent geopolitical conflicts, economic volatility, and climate-related disruptions. In such an environment, cash, gold, and cryptocurrencies have all experienced increased demand—not for transactional purposes, but as stores of value in times of uncertainty.

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.

Cash is making a comeback! Recent data shows a shift from decline to plateau in cash payments. Despite digital growth, cash remains essential in our payment systems.

France's National Payments Committee urges immediate action to secure future payments sovereignty amid rising geopolitical tensions. Cash is crucial for economic resilience, industrial autonomy and national sovereignty.

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.

On April 28, 2025, Spain Portugal and parts of France experienced a widespread electrical outage that plunged about 55 million people into a pre-electric age. The blackout had significant impacts on digital payments and cash demand, highlighting the vulnerabilities of modern payment systems during infrastructure failures.

In an era marked by growing global uncertainty, the future of cash is at a critical juncture. As digital payments and financial technologies rapidly evolve, the role of cash is being redefined. However, the focus should not merely be on adapting the cash cycle to these changes, but on proactively shaping it to ensure preparedness and resilience for the challenges ahead.

In a proactive move, the EU recommends every household assemble a 72-hour survival kit, including essentials like food, water, medicine, and cash.

On March 17th, the Spanish Congress of Deputies hosted the conference "Financial Inclusion in Spain: Cash as a Safe and Sustainable Solution," organized by the Denaria Platform. The event brought together experts and institutional representatives to discuss regulatory restrictions affecting cash use and their implications for the economy and national security.

A new OECD paper highlights the importance of balancing digital innovation with the enduring need for cash. By adopting comprehensive policies and initiatives, governments can ensure that all segments of society have access to reliable and secure payment methods, fostering financial inclusion and stability in the digital age.