Acceptance of cash

CashEssentials was honored to hold a seminar on the Future of Cash at the High-Security Printing Conference in Bangkok last week. We asked participants how they imagine the future of cash.

Two policy shifts - mandated cash acceptance and regional bank branch levies - if adopted, could steer the cash ecosystem towards more sustainability.

As a worldwide partner to the Paris 2024 Olympic and Paralympic Games, Visa has a monopoly on all debit, credit and mobile payments. Spectators are venting their frustration. Paradoxically, the campaign demonstrates the importance of cash in terms of inclusion, protection of privacy and resilience.

The Cash Payments Act aims to keep cash accessible, available, and affordable in the Netherlands by mandating banks to provide essential cash services and securing continuity in cash transportation services.

“No cash accepted” signs are excluding many unbanked and underbanked people. Insisting that all businesses accept cash is a simple way to ensure everyone is financially included in the modern economy.

The Royal Canadian Mint’s supply of coins has increased after the Covid-19 pandemic. Canadian retailers remain committed to accepting cash transactions.

Cash is the most widely used and accepted payment instrument in Spain, according to a recent survey from the Banco de España. Very few people and retailers know about the digital euro.

The rapid growth of e-commerce globally is often put forward as one explanation for the declining transactional use of cash and an argument in favour of CBDCs. But cash is widely used and increasingly accepted online. However, its usage is not measured.

A recent article from the Reserve Bank of Australia examines why cash usage has declined markedly since the mid-2000s through the interdependencies between cash use, cash access, and cash acceptance.

The Cuban government recently restricted the use of cash in transactions, seeking to promote financial inclusion. Cuban infrastructure is ill-prepared for digital payments.

I attested how payment habits in France have changed during a recent visit to Paris. However, cash usage remains resilient.

Latest YouGov findings reveal 71% of the British public would support making it a legal requirement for businesses to accept cash.