News | Cash & Payment News

John Winchcombe

5 March 2021

2 min read

Federal Reserve Survey Reflects Changing Cash Usage

In October 2020 the Federal Reserve’s national Cash Product Office (CPO), with the Federal Reserve Bank of Atlanta and Federal Reserve Bank of Boston, conducted the annual Diary of Consumer Payment Choice survey.

Cash Usage Country Profile Surveys

John Winchcombe

5 March 2021

2 min read

Dirty Money and the Demand for Cash

In IMF Working Paper 2020 255, entitled ‘Dirty Money: Does the Risk of Infectious Disease Lower Demand for Cash?’, its author Serhan Cevik – a senior economist with the IMF – looked at data from 133 countries between 1995 and 2017 to understand how people react to a rise in infectious diseases. Against his initial study he then ran a further five subsets of data to test his findings. After controlling for macroeconomic, financial and technological factors, the data was clear that a rise in infectious disease reduces the demand for physical cash.

Cash Usage COVID

John Winchcombe

5 March 2021

5 min read

Measuring and Understanding Foreign Demand for Euro Banknotes

The European Central Bank (ECB) study, 'Foreign Demand for Euro Banknotes', set out to identify the demand drivers for euro banknotes and to estimate the share of euro banknotes in circulation outside of the euro area.

Cash in Circulation Central Banks

John Winchcombe

5 March 2021

2 min read

CBDC Security and Convenience: a Major Challenge

Digital currency covers more than Central Bank Digital Currencies (CBDCs), it extends to all the digital solutions from Bitcoin to Diem. Digital currencies store balances in anonymous electronic addresses.

CBDC Staff Papers

John Winchcombe

5 March 2021

3 min read

Legal Status Needed for CBDCs

Central Bank Digital Currencies (CBDCs) are much talked about. The IMF has published a detailed paper – ‘Legal Aspects of Central Bank Digital Currency: Central Bank and Monetary Law Considerations’ – which explains the legal position of CBDCs and has investigated the position of 171 IMF members to see which are currently able to issue a CBDC. The paper will help central banks think through this element of their CBDC preparations.

CBDC

John Winchcombe

5 March 2021

4 min read

Pandemic Payment Patterns in the Netherlands

The Dutch National Bank (DNB) studied how an external shock, the COVID-19 pandemic, affected payments in the Netherlands, using an extensive payment diary that ran from January 2018 to October 2020.

Country Profile COVID

John Winchcombe

5 March 2021

5 min read

News in Brief

On 26 January the European Court of Justice (ECJ) gave its judgement on the Hessischer Rundfunk case.

ATMs Bank Branch CBDC

John Winchcombe

5 March 2021

5 min read

CashTech: Taking Cash Forward

This is the title of a new Cash Essentials paper. The paper considers the role cash plays in economic and social life, the challenges it faces and how innovation is improving the efficiency of the cash cycle. The paper includes the line, ‘the capacity for cash to change will be integral to its continuing success’, and it goes on to explore what the future holds.

Cash Management Free Future of Cash Free

John Winchcombe

5 March 2021

3 min read

CashTech News Round-Up

The Dhaka Tribune reports that between March and the end of November 2020, the number of Cash Recycling Machines (CRMs) increased from 266 to 684 in an attempt to make branches less crowded and to lower costs since less cash loading and replenishment of ATMs is needed, along with reduced cash movements, sorting and handling.

ATMs Cash Management

John Winchcombe

5 March 2021

5 min read

Cash – the ‘Anchor of Stability’ Which Needs Safeguarding

A recent working paper entitled ‘Institutional Hostility to Cash and COVID-19’ by economists Doris Neuberger of Germany’s University of Rostock and Eduardo Beretta from the Swiss Institute of Economics examines how the pandemic has boosted commercial incentives and government policies to nudge consumers away from cash.

Cash Usage COVID Future of Cash

John Winchcombe

5 March 2021

3 min read

A Changing Payment Landscape in Hong Kong?

The Hong Kong Monetary Authority (HKMA) monitors payments closely. During 2020 there were some interesting variations that HKMA will track in 2021. The priority for 2021 will be to monitor and understand what is happening across a range of indicators so that HKMA can manage the appropriate supply of banknotes.

Cash in Circulation Country Profile

John Winchcombe

5 March 2021

4 min read

UK Cash Under Pressure

LINK, the UK’s main cash machine operator, reported a 37% drop in the number of ATM cash withdrawals in 2020, a significant fall. But that is still £1.6 billion withdrawn each week - £1,500 for each adult. With nearly 8% fewer free-to-use ATMs and nearly 18% fewer pay-to-use machines, these figures are even more impressive. John Howells, CEO of LINK, the UK’s largest cash machine network, made the point that ‘the sharp decline in ATM use brings significant problems (the) drop in transactions places enormous strain on the cash infrastructure’.

Cash Usage Country Profile

John Winchcombe

2 Feb. 2021

2 min read

‘A Digital Euro is Due, if not Overdue’

Thus said Ralph Wintergerst, CEO of Giesecke + Devrient (G+D), to the Frankfurter Allgemeine newspaper before Christmas. G+D has invested significantly in this area to position itself for the future and to support its worldwide relationships with central banks. It is confident that cash will remain a core payment instrument but sees a future shift to Central Bank Digital Currency (CBDC).

CBDC

John Winchcombe

2 Feb. 2021

6 min read

NatWest Brings Together the UK Cash Industry

In the three months leading up to 9 December, NatWest, a UK bank, brought together 36 organisations to establish cross industry working groups to improve the environmental performance of the UK’s cash cycle. Three working groups were set up looking at energy, plastics and CO2 to establish best practice and to drive change.

Cash Management Free Future of Cash Free

John Winchcombe

2 Feb. 2021

2 min read

Without Cash, Can There be Safe Payments?

A recent Bank of Canada Staff Working Paper on ‘Safe Payments’ (2020-53) posed the question whether private payment systems based on bank deposits provide the optimal level of safety?

CBDC Future of Cash

John Winchcombe

2 Feb. 2021

1 min read

Cash Essentials Launches Cash Glossary

Cash Essentials, the independent initiative that seeks to provide a platform for debate about the payments and monetary ecosystems, has published its first edition of a Cash Glossary. The aim is to give the cash industry a shared vocabulary relating to payments and the cash cycle.

Cash Centre Cash in Circulation Cash Management

John Winchcombe

2 Feb. 2021

2 min read

CPN is Going Online... and Weekly!

Reconnaissance International (RI), co-publisher of Cash and Payment News™ (CPN), is pleased to announce that it is moving to a new online platform incorporating a weekly newsfeed service alongside the monthly newsletter.

News

John Winchcombe

2 Feb. 2021

3 min read

Protecting ATMs

In December RBR ran an online conference for Self-Service Banking Europe. There is much in the news about attacks on ATMs and this was one of the areas of interest in the conference. Paul Nicholls from Oberthur Cash Protection, Spencer Marshall from HID Global and Duane Campbell from Tesco discussed what they are doing in this area.

ATMs

John Winchcombe

2 Feb. 2021

4 min read

Call for Higher Contactless Payment Limits

UK Finance, who represent the banking industry, are reported by The Times newspaper to have asked the Treasury to increase the contactless payment limit from £45 to £100. Prior to the COVID pandemic the limit had been £30. The Financial Conduct Authority would have to approve any change.

Cards Country Profile

John Winchcombe

2 Feb. 2021

2 min read

Sweden Considers the Future

On 1 January 2021, a new law came into effect in Sweden intended to secure access to cash and payment services.

Country Profile

Latest News

Federal Reserve Survey Reflects Changing Cash Usage

Dirty Money and the Demand for Cash

Measuring and Understanding Foreign Demand for Euro Banknotes

CBDC Security and Convenience: a Major Challenge

Legal Status Needed for CBDCs

Pandemic Payment Patterns in the Netherlands

News in Brief

CashTech: Taking Cash Forward

CashTech News Round-Up

Cash – the ‘Anchor of Stability’ Which Needs Safeguarding

A Changing Payment Landscape in Hong Kong?

UK Cash Under Pressure

‘A Digital Euro is Due, if not Overdue’

NatWest Brings Together the UK Cash Industry

Without Cash, Can There be Safe Payments?

Cash Essentials Launches Cash Glossary

CPN is Going Online... and Weekly!

Protecting ATMs

Call for Higher Contactless Payment Limits

Sweden Considers the Future

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