Vital Importance of Maintaining the Cash ‘Habit’

The International Mint Industry Association (IMIA) has seven European mints as full members and seven associate members. It has recently issued a brief that argues for pro-active policies to safeguard cash payments to ensure European crisis resilience. Although some of the arguments are European specific, the broad thesis has wider relevance.

When crisis comes it can arrive fast and be unexpected. You have to face the crisis with the tools you have in that moment. This paper argues that Europe needs a spread of payment options to maximise its ability to respond to future crisis.

The focus, and investment, goes on electronic and digital payments while cash is being at best treated in an uncoordinated way or, at worst, neglected.