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Whitepaper

Our foundational ideas are contained in the white paperSee Banknote paper. More “CashEssentials – Beyond Payments”, by CashEssentials chair and founder Guillaume Lepecq.

The foundational ideas of the CashEssentials think tank are contained in the white paper “CashMoney in physical form such as banknotes and coins. More Essentials – Beyond Payments”, by Guillaume Lepecq.


Every day, billions of banknotes and coins changeThis is the action by which certain banknotes and/or coins are exchanged for the same amount in banknotes/coins of a different face value, or unit value. See Exchange. More hands, enabling all kinds of transactions to be carried out. The role of cash as a payment instrumentDevice, tool, procedure or system used to make a transaction or settle a debt. More is well known and volumes of economic literature deal with the resilience of cash, its efficiency compared to non-cash payments and the role of cash amid alternative paymentA transfer of funds which discharges an obligation on the part of a payer vis-à-vis a payee. More instruments. Undeniably, cash continues to play an important, often dominant role in retail payments.

However, cash has numerous other attributes beyond payments. Children solve their first algorithm problems by counting coins. In times of economic hardship, many consumers rely on cash to manage their budgets more carefully. For many countries, banknotes reflect their national heritage and values. When natural or man-made disasters strike, cash is often the fall-back solution.

The objective of this white paper is to identify the unique attributes of cash and understand how they contribute to the demand for cash. Cash faces ever-increasing competition from alternative payment instruments, ranging from debit and credit cards to credit transfers and direct debits, as well as emerging payment instruments such as electronic and mobile payments and even virtual currencies. All these instruments challenge the payment function of cash. Despite this disruptive evolution, the demand for banknotes and coins has continued to grow at a significant pace around the world.

This white paper could not have been done without the insight, expertise and guidance of:

  • Antti Heinonen, Former Director of Banknotes at the European Central Bank and Chairman of the BanknoteA banknote (or ‘bill’ as it is often referred to in the US) is a type of negotiable promissory note, issued by a bank or other licensed authority, payable to the bearer on demand. More Ethics Initiative;
  • Lahcen Hadouni, Former Director of Dar-As-Sikkah, printers for the Central Bank of Morocco;
  • Dan Littman, Senior Payments Research Consultant, Federal Reserve BankSee Central bank. More of Cleveland, the US.

Download the white paper here: CashEssentials – Beyond Payments White paper

This post is also available in: Spanish

WhitePaper
Cash
connects people
July 18, 2016

Cash is used by all, young or old, rich or poor. It does not lead to discrimination as everyone uses the same notes and coins.

Read more...
Cash is
trust
July 18, 2018

Security consists above all, in providing an environnment in which consumers feel confortable to transact.

Read more...
Cash is
universal
July 18, 2018

Cash can be used by everyone, regardless of age, gender or financial situation.

Read more...
Cash is
efficient
July 18, 2018

Cash remains the most commonly used method of payment, accounting for 85% of transactions worldwide.

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Learn more by reading our whitepaper CashEssentials – Beyond Payments

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Designed to provide unbiased information about the future of cash, Cash Essentials offers a platform for debate on this growing issue.

In this growing ecosystem of heterogeneous payment methods, cash remains a public good. It is spent by individuals and demand is driver by consumers – it is therefore the public that should have the final word on its evolution.

For more information, visit About Us.

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