Cash Payment Habits and Infrastructure for Resilience

In times of crisis, cash is increasingly recognised for its resilience. At an IMIA organised roundtable, Päivi Heikkinen (Head of Payment Systems Department and Chief Cashier, Bank of Finland), Matthias Schroth (Director of Cash Management Department, Oesterreichische Nationalbank – OeNB), and Koen Thuis (Head of Cash Policy & Oversight Department, De Nederlandsche Bank – DNB) discussed approaches to the future of cash infrastructure and the cash payment habit with the aim of preserving cash resilience.

Martina Horakova framed the issue of resilience around how everyday payment habits enable cash to function in a crisis. She asked whether central banks consider a ‘target level’ of cash use and infrastructure to preserve resilience, drawing a parallel with the digital euro’s legislation, which provides for strong access and mandatory acceptance from the outset. She also asked about the role of public communication, such as the ‘use it or lose it’ campaign.