News in Brief

Norway to Legislate for Cash Acceptance

A Norges Bank survey estimates only 3% of consumers pay with cash, although more would do so if shops would accept cash. Norges Bank and the government have recently added an amendment to the Central Bank Act that clarifies consumers’ right to pay with cash up to an amount of 20,000 kroner.

Ireland’s Payment Strategy and Cash

Ireland’s new national payment strategy includes details on the future role of cash.

In particular:

• All government departments and bodies under their aegis are to accept electronic payments and cash payments (or facilitate cash payments).
• The government will ensure all sectors of the economy are aware of the forthcoming EU legal tender regulation and their obligations regarding mandatory cash acceptance (if applicable), along with potential changes they may need to make to accommodate this and any other relevant issues arising from the regulation.
• There will be a comprehensive overview of the national cash cycle environment that will inform policy thinking and formation in relation to cash and payments.