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All Access to Cash AI Apps ATMs Bank Branch Cards Cash Centre Cash in Circulation Cash Management Cash Usage CBDC Central Banks CIT Coins Commercial Banks Country Profile COVID Crime Cryptocurrency Data Analytics Digital CN Digital Payments Editorial Events Free Future of Cash News Payments POS Resilience Retail Stablecoins Staff Papers Studies, Reports Surveys Sustainability

John Winchcombe

6 Jan. 2022

5 min read

Bank of Canada Staff Discussion Paper 2021-17: 'Revisiting the Monetary Sovereignty Rationale for CBDCs'

This paper looks at the implications of currency substituting that go beyond the functions of central banks, to consider the key differences in monetary policy and LLR, and to assess the implications and risks of currency substitution and how they vary between countries.

Digital CN

John Winchcombe

6 Jan. 2022

4 min read

Bank of Canada Staff Working Paper 2021-65: 'Predicting the Demand for Central Bank Digital Currency: A Structural Analysis with Survey Data'

With 14% of central banks at the pilot stage of exploring a possible future Central Bank Digital Currency (CBDC), this paper seeks to address three related questions; What would be the demand for a CBDC?, How would different design attributes affect demand?, and To what extent would a CBDC impact the demand for cash and deposits?

Digital CN

John Winchcombe

6 Jan. 2022

3 min read

Bank of Canada Staff Working Paper 2021-67: 'Best Before? Expiring Central Bank Digital Currency and Loss Recovery'

An offline ability to use CBDCs could make them more inclusive for those who find the digital world hard to access. This paper considers whether an expiry date on CBDCs would add to the usefulness of CBDCs.

Digital CN

John Winchcombe

21 Dec. 2021

4 min read

Six Payment Megatrends Identified in South Africa

BankServ Africa builds and operates essential payment infrastructure in South Africa and 20 other countries. It operates as a utility with a mutual ownership structure of Nedbank, Absa Bank, the Standard Bank of South Africa and FirstRand Investment Holdings.

Country Profile

John Winchcombe

21 Dec. 2021

4 min read

2021: A Year in Review

12 editions of Cash & Payment News™, 12 weeks of Digital Currency News™. What have we learnt? What has changed?

Editorial Free Free

John Winchcombe

21 Dec. 2021

1 min read

Post Offices and the Unbanked in the US

Post offices are often proposed as a solution to providing access to cash. The US Center for Monetary and Financial Alternatives have argued that this is to fundamentally misunderstand the case of the unbanked.

Country Profile

John Winchcombe

21 Dec. 2021

5 min read

News in Brief

Westpac, a major Australian bank, has re-designed its point-of-sale (POS) terminals to help blind and visually impaired people use them more easily. 110,000 machines are being changed for Android-based devices with new functionality.

News

John Winchcombe

21 Dec. 2021

3 min read

The Need for a New Cash Calculation

David Fagleman, of the consultancy Enryo, has recently presented and written about cash in circulation (CIC). He makes the case that CIC data provided by central banks is unhelpful because it overstates the case for cash usage and creates confusion about what is actually happening.

Cash in Circulation

John Winchcombe

21 Dec. 2021

3 min read

UK Moves to Sustain Cash

The UK is facing significant pressure on its cash infrastructure, sufficient to put access to cash on the political agenda. 2021 draws to a close with a major announcement that some of the largest UK banks will create a network of shared banking hubs to maintain cash facilities for communities where cash services have ended.

Bank Branch Country Profile

John Winchcombe

21 Dec. 2021

2 min read

Cryptocurrency Induced Systemic Risk

The Turkish lira is sharply down in value this year, over 40%. On 24 November bitcoin hit a new all-time high after the lira dropped 15% on the news of President Erdogan defending the reduction in interest rates in Turkey at a time of 20% inflation.

Digital CN

John Winchcombe

21 Dec. 2021

4 min read

Cost Benefit Analysis of Restricting Cash Usage

A paper by the Einaudi Institute for Economics and Finance (EIEF), ‘Cash: A Blessing or a Curse?’, examines what happened in Mexico when changes to cash availability were made.

Cash Usage Staff Papers

John Winchcombe

21 Dec. 2021

3 min read

RBA Governor Lays Out the Future of Payments in Australia

Philip Lowe, Governor of the Reserve Bank of Australia (RBA), spoke recently at a conference about the future of payments in Australia. He said that the direction of change was ‘pretty clear’.

Country Profile Future of Cash

John Winchcombe

21 Dec. 2021

4 min read

Payment News

Amazon has announced that from 19 January 2022 in the UK it will stop accepting Visa credit card payments due to their high cost. This follows the post-Brexit removal of the interchange cap imposed by the European Commission. Amazon has also introduced surcharges on Visa credit cards in Singapore and Australia.

News

John Winchcombe

21 Dec. 2021

3 min read

Belgium Payments: Are Contactless Payments Leading to a Less Cash Tipping Point?

When one looks at the pandemic data it consistently shows a drop in cash usage, as it does here in Belgium. However, the nuance perhaps points to a different story.

Country Profile

John Winchcombe

21 Dec. 2021

7 min read

ERPB Report on Access and Acceptance of Cash in the Euro Area

In November 2021 the Euro Retail Payments Board (ERPB) Working Group on Access and Acceptance of Cash ERPB issued its report.

Staff Papers

John Winchcombe

17 Dec. 2021

2 min read

OMFIF European Payments and Digital Assets Conference - CBDCs on the Agenda

At OMFIF’s European payments and digital assets conference CBDCs were on the agenda. Wholesale CBDCs are more familiar ground for central banks since they can be regarded as exploiting a technological opportunity rather than a major structural change.

CBDC Digital CN

John Winchcombe

17 Dec. 2021

7 min read

The Importance of Evidence Based, Customer Led Design

OMFIF’s Digital Monetary Institute has worked with Giesecke + Devrient (G+D) to issue a paper ‘Consumer Attitudes to CBDC: considerations for policy makers’. The paper includes an introduction to CBDCs and an overview of the rationale for CBDCs, the work being done around the world and the challenges being addressed.

CBDC Digital CN

John Winchcombe

6 Dec. 2021

5 min read

Cryptocurrency News

Four recent stories about digital payment crime highlight the changing profile of financial crime from payment cards to cryptocurrencies.

Digital CN

John Winchcombe

6 Dec. 2021

4 min read

CBDC News

The latest Bank for International Settlements (BIS) Innovation Hub has been opened by the Federal Reserve Bank of New York, joining Hong Kong, London, Singapore and Switzerland.

Digital CN

John Winchcombe

4 Dec. 2021

4 min read

Cash Usage and the Underground Economy

There is an assumption that cash is a driver of the shadow economy, but this is not proven by empirical evidence. Occasional paper 649 from the Banca d’Italia used the decision to increase the limit on cash usage as an opportunity to study what happened to cash and the shadow economy.

Staff Papers

Latest News

Bank of Canada Staff Discussion Paper 2021-17: 'Revisiting the Monetary Sovereignty Rationale for CBDCs'

Bank of Canada Staff Working Paper 2021-65: 'Predicting the Demand for Central Bank Digital Currency: A Structural Analysis with Survey Data'

Bank of Canada Staff Working Paper 2021-67: 'Best Before? Expiring Central Bank Digital Currency and Loss Recovery'

Six Payment Megatrends Identified in South Africa

2021: A Year in Review

Post Offices and the Unbanked in the US

News in Brief

The Need for a New Cash Calculation

UK Moves to Sustain Cash

Cryptocurrency Induced Systemic Risk

Cost Benefit Analysis of Restricting Cash Usage

RBA Governor Lays Out the Future of Payments in Australia

Payment News

Belgium Payments: Are Contactless Payments Leading to a Less Cash Tipping Point?

ERPB Report on Access and Acceptance of Cash in the Euro Area

OMFIF European Payments and Digital Assets Conference - CBDCs on the Agenda

The Importance of Evidence Based, Customer Led Design

Cryptocurrency News

CBDC News

Cash Usage and the Underground Economy

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