DNB’s McKinsey Study Lays Out the Future of Cash

The Dutch National Bank (DNB) spoke at the recent ICCOS seminar about the McKinsey study commissioned to consider the cash infrastructure the Netherlands will need for the next 10 years. With cash transactions having recovered to 20% of transactions, down from 32% pre-pandemic, the Netherlands is preparing for a less cash society.

Olaf Sleijpen outlined the strengths of cash – peace of mind against emergencies, ease of use, control over spending, public money providing privacy, comfortable way to pay, suitable for all people.

McKinsey identified cash as a back-up for electronic payments, a necessary option for vulnerable people and a general, public means of payment. For the DNB these roles determine the size and the cost of the cash infrastructure. If these roles change, so should the infrastructure.