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Executive Board of the ECB defends use of cash in Eurozone
In a speech by Yves Mersch, Member of the Executive Board of the ECB, at the 4th Bargeldsymposium of the Deutsche Bundesbank last week he defied the growing convention that Europe will be cash free by “insert date”, instead defending the use of cash in society. “The particularly good cooperation between the various Eurosystem central banks [...]
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Cash marches on – Forecasting future bank note demand
In mid-September, the Bank of England issued a new polymer £10 note featuring the author Jane Austen. The notes include raised dots in the upper corner to help blind and partially sighted people identify them. Security features include a hologram window to raise the bar against counterfeiters. But with so many digital ways to pay, [...]
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What is the position of bitcoin and cash in regulated bank economies
As HSBC escaped the threat of criminal prosecution for having allegedly laundered at least $880m for Mexican drug barons, it does not feel coincidental that the bitcoin frenzy lifted the cryptocurrency to new highs this week. The fiercer the regulatory squeeze on banks, the greater the demand for other means of storing and moving money. [...]
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Cash still predominant payment form in Europe – ECB study
The European Central Bank (ECB) has conducted a comprehensive study to analyse the use of cash, cards and other payment instruments used at points of sale (POS) by euro area consumers in 2016. The paper presents the results of the study, including an estimation of the number and value of payments made with cash and [...]
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The war on cash
Despite all the marketing money spent on promoting electronic payments over many decades, cash still accounts for around 80 percent of consumer payments worldwide. So, is a cashless society a realistic aspiration, or is less cash the best we can hope for? The first coins were issued in around 640 BC in Lydia, modern Turkey. [...]
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