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Filtered by Country Profile — 75 articles

John Winchcombe

21 Dec. 2021

3 min read

UK Moves to Sustain Cash

The UK is facing significant pressure on its cash infrastructure, sufficient to put access to cash on the political agenda. 2021 draws to a close with a major announcement that some of the largest UK banks will create a network of shared banking hubs to maintain cash facilities for communities where cash services have ended.

Bank Branch Country Profile

John Winchcombe

21 Dec. 2021

3 min read

RBA Governor Lays Out the Future of Payments in Australia

Philip Lowe, Governor of the Reserve Bank of Australia (RBA), spoke recently at a conference about the future of payments in Australia. He said that the direction of change was ‘pretty clear’.

Country Profile Future of Cash

John Winchcombe

21 Dec. 2021

3 min read

Belgium Payments: Are Contactless Payments Leading to a Less Cash Tipping Point?

When one looks at the pandemic data it consistently shows a drop in cash usage, as it does here in Belgium. However, the nuance perhaps points to a different story.

Country Profile

John Winchcombe

26 Nov. 2021

3 min read

Impact of India’s Demonetisation on Output, Welfare and the Shadow Economy

On 8 November 2016 it was announced that from midnight that night the two top denominations in India would no longer be legal tender. These two denominations represented 86% of the cash in circulation. A discussion paper from Monash Business School reviews findings from new modelling of that event that investigated the impact of that action on aggregate output, welfare and the size of the shadow economy in India.

Country Profile

Alper Sayin

26 Nov. 2021

3 min read

Cash & Payment Trends from Turkish Perspective

Turkey has a high rate of inflation and household demand for cash has been increasing steadily over the past ten years. The impact of the pandemic was, initially, a decrease in demand because of the shutdowns but, after vaccinations were introduced, demand recovered very quickly.

Country Profile

John Winchcombe

13 Nov. 2021

2 min read

DNB’s McKinsey Study Lays Out the Future of Cash

The Dutch National Bank (DNB) spoke at the recent ICCOS seminar about the McKinsey study commissioned to consider the cash infrastructure the Netherlands will need for the next 10 years. With cash transactions having recovered to 20% of transactions, down from 32% pre-pandemic, the Netherlands is preparing for a less cash society.

Country Profile Future of Cash

John Winchcombe

21 Sept. 2021

2 min read

El Salvador and Bitcoin: Legal Tender or Compulsory Tender?

David Birch, the author, adviser and investor in digital financial services, has recently posted an article on Linkedin, ‘Why would anyone think it is a good idea?’. There is the argument is that shop keepers could always have accepted Bitcoin, but now they have to.

Country Profile Digital Payments

John Winchcombe

26 Aug. 2021

5 min read

Country Profile: Rwanda

Rwanda is a relatively small land-locked African country in the Great Rift Valley bordering Uganda, Tanzania, Burundi and the Democratic Republic of the Congo. It is the most densely populated mainland African country with a young, mainly rural population numbering 12.6 million.

Country Profile

John Winchcombe

24 Aug. 2021

5 min read

Changing Cash in Circulation in Italy

The Banca d’Italia (BdI) issued a technical paper in July analysing 20 years of cash data to understand cash circulation, important to a central bank for planning cash production and its monetary policy implementation framework.

Cash in Circulation Country Profile

John Winchcombe

25 July 2021

2 min read

DNB Reports on the Future of Cash Infrastructure

The Dutch National Bank (DNB) has written to the Dutch House of Representatives presenting its report, ‘The Future of Cash Infrastructure in the Netherlands’. The DNB commissioned a study from McKinsey in December last year as the basis for this report.

Country Profile Free Future of Cash Free

John Winchcombe

25 July 2021

4 min read

Cash Survey Results in Switzerland and the US

Both Switzerland and the US are big users of cash. Here we report on surveys that show change is happening.

Country Profile Surveys

John Winchcombe

21 June 2021

2 min read

Dutch Remain Positive about Cash

A survey carried out in February 2021 by the Dutch National Bank (DNB Cash) contained some good news for cash. In five years’ time over 70% of all age groups expect still to be using cash.

Country Profile Future of Cash

John Winchcombe

21 June 2021

2 min read

Proof-of-Work v Proof-of-Stake

Cryptocurrencies are almost all built on two different approaches – proof-of-work or proof-of-state.

CBDC Country Profile Digital Payments

John Winchcombe

21 June 2021

7 min read

SNB Favours a Token-Based CBDC Design

The Swiss National Bank (SNB) issued its working paper 3/2021 ‘How to issue a central bank digital currency’. Written by David Chaum, Christian Grothoff and Thomas Moser, the paper presents the SNB’s thinking about a token-based retail CBDC, a rather different approach from most other central banks.

CBDC Country Profile

John Winchcombe

10 June 2021

3 min read

MAS Sustainability Report

The Monetary Authority of Singapore (MAS) has issued its first Sustainability Report for 2020/21. The report has a section dedicated to reducing emissions related to currency operations. MAS has identified four areas of focus to reduce its currency related emissions.

Central Banks Country Profile

John Winchcombe

18 May 2021

7 min read

Cash in the USA – an Update

Three reports bring insight into the impact of the COVID-19 pandemic on payments in the US.

Country Profile COVID Surveys

John Winchcombe

27 April 2021

6 min read

Riksbank Reports on E-krona Pilot Phase 1

With Sweden’s decline in cash usage, Sveriges Riksbank is less involved in the payment system and is, therefore, less able to meet the requirement placed on it to promote a safe and efficient payment system. As a result, the Riksbank is conducting a pilot project to create a token-based Central Bank Digital Currency (CBDC) known as the e-krona.

CBDC Country Profile Free Free

John Winchcombe

27 April 2021

2 min read

UK CBDC Taskforce Established

The Bank of England and the UK’s Treasury have created a taskforce to coordinate the exploration of a potential UK Central Bank Digital Currency (CBDC). The announcement was at pains to explain that this was not intended to replace cash and bank deposits and that the UK has not made the decision whether or not to introduce a CBDC.

CBDC Country Profile

John Winchcombe

27 April 2021

3 min read

Cash in the UK 2020 – Survey Results

Enryo, a financial services consultancy, conducted four public surveys of over 2,000 people in the UK from April 2020 to January 2021 and an additional survey in March 2021. It has just issued its report and presented a webinar of its results.

Cash Usage Country Profile

John Winchcombe

11 April 2021

3 min read

Wales Launches Complementary Currency to Boost COVID-Affected Economy

Wales, with a population 3.15 million, along with England 56.3 million, Scotland 5.46 million and Northern Ireland 1.89 million make up UK’s total population of 66.8 million. Although all countries in the Union are governed by the UK government based in Westminster in London, Wales along with Scotland and Northern Ireland each has a devolved Parliament with limited powers.

Country Profile COVID

Latest News

UK Moves to Sustain Cash

RBA Governor Lays Out the Future of Payments in Australia

Belgium Payments: Are Contactless Payments Leading to a Less Cash Tipping Point?

Impact of India’s Demonetisation on Output, Welfare and the Shadow Economy

Cash & Payment Trends from Turkish Perspective

DNB’s McKinsey Study Lays Out the Future of Cash

El Salvador and Bitcoin: Legal Tender or Compulsory Tender?

Country Profile: Rwanda

Changing Cash in Circulation in Italy

DNB Reports on the Future of Cash Infrastructure

Cash Survey Results in Switzerland and the US

Dutch Remain Positive about Cash

Proof-of-Work v Proof-of-Stake

SNB Favours a Token-Based CBDC Design

MAS Sustainability Report

Cash in the USA – an Update

Riksbank Reports on E-krona Pilot Phase 1

UK CBDC Taskforce Established

Cash in the UK 2020 – Survey Results

Wales Launches Complementary Currency to Boost COVID-Affected Economy

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