Cash is efficient

U.S. credit card debt rose at its highest rate since 1999 in the third trimester of 2022. Most of the increase occurred amid younger and less wealthy cardholders.

According to the ECB’s latest SPACE study, cash is the most frequently used payment method at the point of sale in the euro area. Most consumers consider cash as a payment option important or very important.

An ECB survey shows that cash is the preferred payment method for 24% of companies, ahead of other alternatives. Most companies also perceive cash as a cheaper, faster and more reliable payment instrument.

During a CashEssentials-hosted research seminar, panellists highlighted the complexity of measuring the cost of payments.

The Competition Appeal Tribunal has added £2.7 billion to the £14 billion class action against Mastercard. If successful, 46 million claimants could receive around £300 each.

The global cash industry – both manufacturers and cash management providers – is making huge strides in reducing its carbon footprint and securing a sustainable future for cash.

The Italia Cashless initiative was launched in December 2020 and rewarded those who favour digital payments over cash. The new government, led by former ECB President Mario Draghi, has terminated the programme.

A new ATMIA position paper calls for Universal Cash Deposit, an interoperable solution whereby a customer from one bank may deposit cash at ATMs owned and operated by other banks or ATM deployers.

For Mastercard CEO Ajay Banga, financial inclusion will be a critical part of post-Covid-19 economic recovery. He recognises that cashless “is something we are not going to get to and probably shouldn’t”.

As Bitcoin reaches new records, it is also guzzling epic levels of energy and its environmental footprint is on the rise.

Prosegur Cash has launched a comprehensive sustainability plan with the aim of reducing the environmental impact of its activities. The company aims to achieve a 1.5% reduction in the direct CO2 emissions of its armoured fleet by 2020. To do so, the main levers are the hybridisation and electrification of their vehicles.

Cash and Crises, a series of financial literacy video series by CashEssentials releases its fifth episode with a social mission to support the relief and development community in understanding how cash is managed for society in times of crisis.