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John Winchcombe

4 Nov. 2021

6 min read

Cash and Payments During the Pandemic

Whilst we may all be tired of hearing about COVID-19 and its impact on just about everything to do with our everyday lives, it is important for those involved with cash and payments to examine its impact on cash and payments to date and perhaps, more importantly still, the implications for the future.

COVID Free Staff Papers Free

John Winchcombe

4 Nov. 2021

4 min read

News in Brief

On 20 October the UK House of Commons had a debate about access to cash for nearly 90 minutes. 25 MPs spoke across every part of England, Scotland and Wales, including the Economic Secretary to the Treasury.

News

John Winchcombe

4 Nov. 2021

4 min read

Round-Up of CBDC News

With under 100 days to go to the winter Olympics, China is encouraging domestic and foreign retailers to enable payment using the e-Yuan, China’s CBDC. Although foreign visitors will not be able to travel to China for the Olympics, it continues to work towards having the e-Yuan up and running.

CBDC Digital CN

John Winchcombe

4 Nov. 2021

2 min read

Where to Start Faced with Populist Journalism

The Economist’s 1843 magazine recently published an article, ‘The Mystery of the Missing £50 Billion’. It tells the story of a young lady caught at Heathrow with five suitcases containing nearly £2 million in banknotes.

Cash Management Editorial

John Winchcombe

3 Nov. 2021

2 min read

More Payment Vulnerability Than You Might Think

One-time passwords (OTP) are a central part of payment security. It is a concern, therefore, to read about hackers hijacking OTPs sent via SMS by Singapore banks to their customers, resulting in fraudulent credit card transaction worth S$500,000, as recently reported by the Monetary Authority of Singapore.

Crime

John Winchcombe

28 Oct. 2021

4 min read

The Rise of QR Codes

Quick Response (QR) codes, tiny black-and-white squares, can be read at ten times the speed of traditional bar codes; hence they were called ‘Quick Response’ codes or QR codes for short. They are two-dimensional black and white barcodes that can reveal a URL (web address) or other information with a scanning device.

Digital Payments

John Winchcombe

5 Oct. 2021

3 min read

Bank of Canada Survival Analysis of Banknote Circulation

The Bank of Canada (BOC) has a Currency Inventory Management Strategy (IMS) based on its high-speed sorters that capture the image of every banknote, including the serial number, along with the date the banknote was created, shipped from the central bank’s distribution sites and returned to them.

Staff Papers

John Winchcombe

26 Sept. 2021

2 min read

Digital Currency News - News about CBDCs

The subject of Central Bank Digital Currencies (CBDCs) has moved from ‘vague awareness’ in around 2016 to ‘big news’ today. To help people keep up, the publishers of Cash & Payment News™ (CPN) have decided to start publishing a weekly newsletter dedicated to CBDCs.

Digital CN News

John Winchcombe

26 Sept. 2021

1 min read

Central Bank Payments 2021 Conference Moves Online

The Central Bank Payments conference has had to become virtual and will now take place as four separate half day events. These will be held on 8, 15, 22 and 29 November.

Events

John Winchcombe

26 Sept. 2021

2 min read

Where Cash and Digital Technology Meet

CashEssentials – the cash and payments think tank – has launched the CashTech Forum to promote innovation and technology, thereby ensuring a sustainable and future-proof cash ecosystem.

Cash in Circulation Cash Management

Paul Blond

26 Sept. 2021

7 min read

The Future of Cash – from the Asia Pacific Perspective

In place of the annual in-person Future of Cash Conference™, a series of virtual events have been staged. The most recent was an Asia Pacific-focused two-day virtual conference held across four themed sessions in July.

Events Future of Cash

John Winchcombe

26 Sept. 2021

1 min read

COP26: Where Does the Cash Industry Stand?

15 organisations across the entire cash cycle have contributed 61 separate case studies illustrating what they have done to reduce their environmental impact for a white paper which will be ready for the UN Climate Change conference (COP 26) starting 1 November. A further five organisations will be providing more examples.

Staff Papers

John Winchcombe

26 Sept. 2021

2 min read

BSP wins IACA Award for Cash Supply Innovation

The International Association of Currency Affairs (IACA) held its Excellence in Currency awards ceremony this month, the topic of which was 'Best Currency Initiatives Implemented in Response to The Covid-19 Pandemic’.

COVID

John Winchcombe

26 Sept. 2021

5 min read

Round-Up of CBDC News

Project Dunbar involves the central banks of Malaysia, Singapore, South Africa and Australia. The project, initiated by the Bank for International Settlements (BIS), is to test the use of CBDCs for international settlement.

CBDC

John Winchcombe

26 Sept. 2021

4 min read

Payment News

GSMA has published the number of mobile money accounts in 2020 in different regions, and how many of them are active. The paradox is why are only 25% of registered accounts overall actually active?

News

John Winchcombe

26 Sept. 2021

3 min read

BIS on CBDCs and the Need for Change

Benoît Cœuré, Head of the BIS Innovation Hub, recently spoke at The Eurofi Financial Forum. The focus of his speech was that central banks need to move faster on Central Bank Digital Currencies (CBDCs), with the private sector already on the move.

CBDC

John Winchcombe

26 Sept. 2021

5 min read

News in Brief

In July Germany experienced severe flooding in some regions, as high as seven metres in the town of Bad Neuenahr-Ahrweiler for example. It also resulted in significant quantities of banknotes stored in homes and businesses being damaged by flood water contaminated with mud, sewage and oil.

News

John Winchcombe

26 Sept. 2021

5 min read

Cashless v Cash: the Hidden Costs to Consumers and Society

Ross MacDiarmid, Executive Director of the Mint Directors Conference (MDC), hosted Professor Pasquale Sgro, Professor Franz Seitz and Guillaume Lepecq to consider the question in the title, under the banner of ‘no such thing as a free lunch’.

Cash Usage Free Free

John Winchcombe

21 Sept. 2021

2 min read

El Salvador and Bitcoin: Legal Tender or Compulsory Tender?

David Birch, the author, adviser and investor in digital financial services, has recently posted an article on Linkedin, ‘Why would anyone think it is a good idea?’. There is the argument is that shop keepers could always have accepted Bitcoin, but now they have to.

Country Profile Digital Payments

John Winchcombe

15 Sept. 2021

4 min read

Going Contactless

On 15 October 2021 the UK raises its contactless limit to £100 from £45. It also raises the cumulative transaction limit to £300 before a PIN must be entered. This increase means the UK now has the highest contactless limit in Europe and the seventh highest in the world.

Cards Digital Payments

Latest News

Cash and Payments During the Pandemic

News in Brief

Round-Up of CBDC News

Where to Start Faced with Populist Journalism

More Payment Vulnerability Than You Might Think

The Rise of QR Codes

Bank of Canada Survival Analysis of Banknote Circulation

Digital Currency News - News about CBDCs

Central Bank Payments 2021 Conference Moves Online

Where Cash and Digital Technology Meet

The Future of Cash – from the Asia Pacific Perspective

COP26: Where Does the Cash Industry Stand?

BSP wins IACA Award for Cash Supply Innovation

Round-Up of CBDC News

Payment News

BIS on CBDCs and the Need for Change

News in Brief

Cashless v Cash: the Hidden Costs to Consumers and Society

El Salvador and Bitcoin: Legal Tender or Compulsory Tender?

Going Contactless

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