12 Months an Editor - the Only Certainty is Change

This is a reflection on 12 months as Editor of Cash & Payment News™ (CPN), writing about the payment environment and the role of cash. With the impact of the pandemic providing the backdrop, a number of themes are evident.

The ‘cash paradox’

The ‘cash paradox’ is the apparently unstoppable rise in the volume and value of cash in circulation in the majority of countries in the world, while the number of cash transactions falls. The reduction in cash usage last year combined with the flight to cash has drawn the attention of the media, politicians, central banks and the industry. The result has been research and articles seeking to understand what has happened and the implications.

It appears that some of the cash held is because people have been unable to spend it – face-to-face transactions having reduced as well as many retailers actively discouraging its use. Equally, governments have driven a digital agenda, both generally and around payments, influencing behaviour.