Cash Initiatives Around the World

During a panel discussion at this summer’s Currency Technology Symposium, a number of speakers described their cash cycles and access to cash. While the Dutch National Bank (DNB) is insourcing cash processing as cash volumes fall, South Africa is working with stakeholders to manage the quality of notes in circulation, and Switzerland is collecting data to inform policy on maintaining access to cash. Furthermore, Prof Dr Barbara Brandl of Goethe University Frankfurt am Main, highlighted the need for access to both cash and digital money, to mitigate against inequalities that come with digital-only payments.

South Africa

Pearl Kgalegi from the South African Reserve Bank (SARB) explained how there are 284 high-speed sorters in South Africa.

All of these need to be aligned with SARB’s quality standards. SARB also has to manage banknote quality across the Common Monetary Area, which includes Namibia, Lesotho and Eswatini.