Digital payments

Imagine a week without cards or apps—only cash. Would you spend less, think harder, or just get frustrated? A Guardian journalist did just that, revealing valuable insights about how cash shapes our spending, emotions, and financial health.

The future of cash is shaped by geopolitical tensions, digital developments, monetary innovation and consumer preferences. Will cash remain a global stabilizer or fade into obsolescence? The answer lies in navigating uncertainty, regulation, and technological change. What future do we want for cash?

The fragility of IT systems has been starkly exposed by recent high-profile outages. The AWS crash in October 2025, Spain’s power outage in June 2025, and the global CrowdStrike Falcon Sensor outage in July 2024 have disrupted payment systems worldwide, costing the global economy billions annually. These incidents underscore the irreplaceable role of cash as a backup when digital payments fail.

As France braces for a nationwide day of action dubbed “Bloquons tout” (“Block everything”), a striking feature of the protests is the call for citizens to withdraw cash from banks and use it instead of cards. This tactic, reminiscent of past grassroots movements like the Yellow Vests, aims to disrupt the financial system and send a message to both the government and major banks.

Visa and Mastercard are ramping up efforts to win over German consumers, leveraging global marketing muscle with locally resonant campaigns. Despite Germany’s traditionally cash-centric culture, both brands are pushing to shift perceptions and boost card usage through storytelling, sponsorships, and advertising.

New research highlights that cash not only influences how much we spend but also fosters a profound sense of psychological ownership that digital payments do not replicate.

The U.S. Department of Justice is accusing Visa of stifling competition and inflating merchant fees. The lawsuit emphasizes the importance of cash as a mainstream payment method to ensure competition, affordability, privacy, and resilience in the payments landscape.

U.S. consumers paid credit card issuers $130 billion in interest and fees in 2022. In March, the Biden Administration curbed excessive credit card late fees.

While the use of cash has declined in Australia, many still rely on cash for payments, including seniors, lower-income households, migrants, and rural inhabitants.

Australia’s cash infrastructure has contracted sharply in recent years. Banks and retailers have reduced cash services, even in urban areas.

Digital payments become a nightmare after losing your mobile phone, as I learned from two robberies in London last year.

Digital payments become a nightmare after losing your mobile phone, as I learned from two robberies in London last year.