News | Cash & Payment News

John Winchcombe

4 Jan. 2021

4 min read

YouGov and the Impact of COVID on Cash

YouGov have carried out a survey in 21 countries asking about payments in the pandemic, which provides an interesting snapshot on the relative impact of COVID-19 on cash usage around the world.

Cash Usage COVID

John Winchcombe

4 Jan. 2021

5 min read

Payments in Brief

Wholesale Central Bank Digital Currencies (CBDC) are a less talked about element of the CBDC conversation, perceived as more operational than revolutionary. However, the Bank for International Settlements (BIS) has successfully concluded a proof-of-concept project with the Swiss National Bank (SNB) and SIX to explore the performance of the technology to integrate a tokenised digital asset and central bank money.

Apps CBDC Digital Payments

John Winchcombe

4 Jan. 2021

4 min read

ECB Emphasises the Importance of Cash

The European Central Bank (ECB) has published the results of a major study into the payment attitudes of consumers in the euro area (SPACE) and compared it with a similar 2016 study (the SUCH study on the payment attitudes of consumers in the euro area). It also published results of another large scale interim 2020 survey, the impact of the pandemic on cash trends (IMPACT) survey.

Central Banks COVID Surveys

John Winchcombe

4 Jan. 2021

2 min read

DNB Commissions Study into Future Cash Infrastructure

The Dutch National Bank (DNB) has commissioned a medium-term study to consider the cash infrastructure needed by the Netherlands. In October 2020 the DNB estimates that cash use at the point-of-sale had fallen to 20%.

Cash Management Country Profile

John Winchcombe

4 Jan. 2021

5 min read

2020 Vision: News in Brief

Did much happen this year? A moment to reflect.

Editorial

John Winchcombe

4 Jan. 2021

1 min read

Libra Rebrands to Become ‘Diem’

The Libra Association has rebranded itself as the Diem Association, its payment service operator will be called Diem Networks and its currency the Diem Dollar. Its Calibra blockchain group, responsible for the digital wallet that will hold the Diem Dollar, has already been renamed Novi.

John Winchcombe

4 Jan. 2021

4 min read

The Cash ‘Paradox’

In its latest Quarterly Bulletin, the Bank of England published an article ‘Cash in the time of COVID’. The article seeks to explain what it referred to as the cash ‘paradox’, that cash in circulation is up while cash transaction volumes are down, which has been brought into sharp relief during the pandemic.

Cash in Circulation COVID

John Winchcombe

4 Jan. 2021

4 min read

Bank Branch News

On 15 December a new approach to branch banking started in the UK. OneBanks has partnered with the Co-op retailer to open a fully staffed kiosk in the shop. Although opening in December, it only goes fully live in January. The kiosk is opening in Denny, a Scottish town which has not had any banking facilities for over two years. It is estimated 40% of Scottish towns have one or fewer bank branches.

Bank Branch

John Winchcombe

3 Jan. 2021

5 min read

UK Public Accounts Committee Demands Answers

The UK Parliament’s Public Accounts Committee (PAC) reported on the production and distribution of cash at the end of November. PAC was concerned that the cash distribution infrastructure is at risk, there is a lack of urgency in the response of the public bodies responsible with little action, a lack of clarity about the end goal and no realistic plan. Banknote stocks appear unnecessarily high without a clear explanation of why, and coin production appears unsustainable and not cost effective in the light of falling demand.

Cash Management Country Profile Free Free

Paul Blond

22 Dec. 2020

3 min read

Australian Cash Update – the Journey Continues

In the July edition of Cash and Payments News Paul Blond, Managing Partner of The Blond Group, wrote about the initial impact of COVID-19 in Australia and how not only cash, but all payment methods took a tumble as the widespread lockdown of the country impacted the economy. With the Reserve Bank of Australia (RBA) publishing its latest data, Paul has taken a look at the numbers.

Country Profile

Alper Sayin

22 Dec. 2020

6 min read

Cash Balance Optimization Using AI & Big Data

Garanti BBVA has developed software using Big Data and Artificial Intelligence (AI) to manage its cash logistics. Alper Sayin, Head of Cash Planning and Operations, has written about his experience introducing this software and how they are using it.

Cash Management Data Analytics

John Winchcombe

22 Dec. 2020

2 min read

US COVID Results in More Cash

David Lott of the Federal Reserve Bank in Atlanta gave an interview to ATM Market Place based on their 2019 consumer survey and some additional surveys carried out this year, as well as their normal cash processing role.

Country Profile COVID

John Winchcombe

22 Dec. 2020

5 min read

CBDCs – Making Good Choices

In January the Blockchain and Distributed Ledger Technology team from the World Economic Forum (WEF) in the US issued a comprehensive toolkit to help central banks develop their Central Bank Digital Currency (CBDC) policy by giving them a step by step process to follow, supported by detailed worksheets.

CBDC Central Banks Digital CN

Mike Lee

22 Dec. 2020

5 min read

ATMs Reinvented

Just over five decades after the world’s first ATM was installed in London, conditions have converged to make the reinvention of the ATM inevitable. Next Gen ATMs are an idea, or vision, whose time has come.

ATMs

John Winchcombe

22 Dec. 2020

2 min read

Norway Plans for the Future

Norges Bank Deputy Governor Ida Wolden Bache spoke recently about the Bank’s thinking on CBDCs, or DSPs as they are known in Norway. Even with cash steady since the Spring at 4% of transactions, surely the lowest figure in the world, Norges Bank is in no hurry to issue a DSP. It continues though, to think and prepare.

Central Banks

John Winchcombe

22 Dec. 2020

3 min read

Understanding Household Demand for Cash

When disruption occurs and the past is no longer a reliable starting point and guide for the future, understanding the fundamentals is important. A recent paper published in CESIFO working papers (8574 2020) adds to our knowledge of household demand for cash.

Cash Usage

John Winchcombe

22 Dec. 2020

11 min read

Country Cash Profile: Mexico

This is the latest in our periodic series of country cash profiles, focusing on México, host to the 2021 HSP Latin America conference. It has been prepared with the assistance of the Bank of Mexico, which has built a new print works, is in the process of issuing a new family of notes, and is one of the world’s leading central bank when it comes to cash management.

Country Profile

John Winchcombe

22 Dec. 2020

1 min read

New CBDC Conference

Central Bank Digital Currencies (CBDC) are a hot topic with implications for us all. Whether you are new to them or deeply into the topic, the new CBDC conference in Frankfurt 21-23 June 2021 will be of interest.

Events

John Winchcombe

22 Dec. 2020

4 min read

Africa Banks on Mobile Payments

Only 28.5% of Africa’s 1.17 billion people have bank accounts and the infrastructure of bank branches and ATMs is sparse. The last 20 years had seen payments in Africa change rapidly along African lines, rather than those of Europe or Asia or elsewhere. While payments in Africa continue to change, it appears that the future is mobile.

Digital Payments

John Winchcombe

22 Dec. 2020

2 min read

It’s All About Trust

Chris Skinner recently wrote in his blog, www.thefinanser.com, about the future role of bank branches. His story was based on two Brandseye surveys of consumer sentiment in the UK about banks, one pre-COVID and the other, more recently, ‘during’ COVID.

Bank Branch

Latest News

YouGov and the Impact of COVID on Cash

Payments in Brief

ECB Emphasises the Importance of Cash

DNB Commissions Study into Future Cash Infrastructure

2020 Vision: News in Brief

Libra Rebrands to Become ‘Diem’

The Cash ‘Paradox’

Bank Branch News

UK Public Accounts Committee Demands Answers

Australian Cash Update – the Journey Continues

Cash Balance Optimization Using AI & Big Data

US COVID Results in More Cash

CBDCs – Making Good Choices

ATMs Reinvented

Norway Plans for the Future

Understanding Household Demand for Cash

Country Cash Profile: Mexico

New CBDC Conference

Africa Banks on Mobile Payments

It’s All About Trust

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