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Digital Payments Adoption and the Demand for Cash: New International Evidence

Categories : Cash is also a store of value
August 9, 2019
Published in : Demand, payment competition, Store of value
Growth in cash demand is driven by economic growth and lower interest rates as well as non-traditional factors.
Communication Team

In this report published by the central bank of Colombia, the authors Carlos Arango-Arango and Nicolas Suárez-Ariza analyse the growing demand for cash in both developed and emerging economies. They conclude that the adoption of digital payments does have a negative impact on the demand for cash. However, cash demand is driven by economic growth, low interest rates as well as its increasing use as store of value.