Cash is a hot topic! The Access to Cash Review last year featured across national headlines in the UK and highlighted the importance cash still holds in society despite the growth of cashless alternatives. Whether for reasons of privacy, of its usefulness as a budgeting tool or simply the inaccessibility of other alternatives, many people rely on cash now, and will do so for the foreseeable future.
In this White Paper, Dr Ian Hunt provides an analysis of the contrasting perspectives on cash. He also looks at how innovative digital solutions may provide the key to the future of cash. He concludes that “The business models behind current digital payment solutions are generally incompatible with the societal needs currently served by physical cash. They eliminate some of the negative attributes of cash, but fail to retain the positive attributes of cash which lead to its enduring popularity.”