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Filtered by COVID — 25 articles

John Winchcombe

28 Dec. 2022

6 min read

Bank of England Reports Cash Recovery

The Bank of England published in its quarterly bulleting an update on cash. The headlines were that cash has made a partial recovery.

Cash Usage Central Banks COVID

John Winchcombe

21 April 2022

2 min read

Resilient Cash in Canada

The Bank of Canada runs two ‘Cash Alternative Surveys’ in April and August each year of a representative sample of 2,500–3,500 Canadians. It combines this with data from its Bank Note Distribution System to monitor the use of cash.

Cash Usage COVID Staff Papers

John Winchcombe

26 Nov. 2021

12 min read

The Transformation in the Use of Cash and Digital Payments during the COVID-19 Pandemic

Last month we reviewed the Bank of Canada’s report on the impact of the second wave of COVID-19 on cash usage in Canada. This month we consider a report using data from four countries, the UK, the US, Spain and Mexico, as well as the EU.

COVID Staff Papers

John Winchcombe

4 Nov. 2021

6 min read

Cash and Payments During the Pandemic

Whilst we may all be tired of hearing about COVID-19 and its impact on just about everything to do with our everyday lives, it is important for those involved with cash and payments to examine its impact on cash and payments to date and perhaps, more importantly still, the implications for the future.

COVID Free Staff Papers Free

John Winchcombe

26 Sept. 2021

2 min read

BSP wins IACA Award for Cash Supply Innovation

The International Association of Currency Affairs (IACA) held its Excellence in Currency awards ceremony this month, the topic of which was 'Best Currency Initiatives Implemented in Response to The Covid-19 Pandemic’.

COVID

John Winchcombe

26 Aug. 2021

4 min read

The Power of the Assumptive Close

The Economist Intelligence Unit has issued a paper, ‘Going Digital. Payments in the Post-Covid World’. It is interesting both for what it says and how it says it.

Apps COVID Digital Payments

John Winchcombe

25 July 2021

3 min read

‘Cash in Times of Turmoil’

The Bundesbank held its international cash conference in June 2021 on the topic of ‘Cash in Times of Turmoil’. The future of cash was extensively explored alongside the impact of the pandemic on cash usage and consumer behaviour.

COVID Events

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

2 min read

DNB Becomes Net Issuer of Banknotes

A recent article by the Dutch National Bank (DNB) explained that, as a consequence of the pandemic, its intake of banknotes has fallen to the extent that it is now issuing more euro banknotes than it is getting back in, a first since it started issuing them. The number of notes issued fell by 10% in 2020 but the number of notes received fell by more, by 25%.

Cash in Circulation Central Banks COVID

John Winchcombe

27 April 2021

2 min read

Impact of the Pandemic on Cash in Italy

ADAM, which produces cash management software solutions, has written a series of blogs during the pandemic recording what has happened to cash in Italy in the last year. Its latest report updates the series through until December 2020, drawing some initial conclusions.

Cash Usage COVID

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John Winchcombe

27 April 2021

3 min read

Cash Usage in Southern Europe: A Time of Change?

Outman Consulting has published a review of cash usage in Southern Europe, focusing on Italy and Spain. It surveyed 2,000 consumers in Italy and Spain in January 2021 to understand the impact on payments of the pandemic. It found that, for purchases under €10, the preference for using cash had declined from 78% to about 48%. Why and will the change stick?

Cash Usage COVID

John Winchcombe

27 April 2021

3 min read

Cash in the Pandemic: European Round Up

The ECB has published a comprehensive report of what has happened to cash in the euro area during the pandemic.

Cash Usage COVID

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

John Winchcombe

11 April 2021

3 min read

What Happens When COVID Restrictions Lift? Canada’s Story

The Bank of Canada conducted studies into cash usage in April and July 2020*. This March it updated its staff discussion paper 2021-23 reflecting on these surveys and what they tell us about cash as pandemic containment measures lift.

Country Profile COVID

John Winchcombe

11 April 2021

4 min read

The Flight to Cash in a Crisis

Gerhard Rösel and Franz Seitz have published a paper, ‘Cash and Crises: No Surprises by the Virus’, as a working paper for the Institute for Monetary and Financial Stability. This paper looks at cash usage across a number of key economies since the 1990s. It notes the trend towards cash being hoarded as a store of value, reflected an increasing proportion of cash in circulation being high value notes, but looks, in particular, at what happens to cash when there is crisis.

Cash Usage COVID Staff Papers

John Winchcombe

11 April 2021

2 min read

How did Americans Spend During the Pandemic?

In 2020 US consumers each spent $17,095 according to the US census bureau, $2,398 of which was online. CouponFollow surveyed 1,500 Americans in January 2021 about the state of cashless and touchless payment methods during the pandemic.

Country Profile COVID

John Winchcombe

5 March 2021

2 min read

Dirty Money and the Demand for Cash

In IMF Working Paper 2020 255, entitled ‘Dirty Money: Does the Risk of Infectious Disease Lower Demand for Cash?’, its author Serhan Cevik – a senior economist with the IMF – looked at data from 133 countries between 1995 and 2017 to understand how people react to a rise in infectious diseases. Against his initial study he then ran a further five subsets of data to test his findings. After controlling for macroeconomic, financial and technological factors, the data was clear that a rise in infectious disease reduces the demand for physical cash.

Cash Usage COVID

John Winchcombe

5 March 2021

4 min read

Pandemic Payment Patterns in the Netherlands

The Dutch National Bank (DNB) studied how an external shock, the COVID-19 pandemic, affected payments in the Netherlands, using an extensive payment diary that ran from January 2018 to October 2020.

Country Profile COVID

John Winchcombe

5 March 2021

5 min read

Cash – the ‘Anchor of Stability’ Which Needs Safeguarding

A recent working paper entitled ‘Institutional Hostility to Cash and COVID-19’ by economists Doris Neuberger of Germany’s University of Rostock and Eduardo Beretta from the Swiss Institute of Economics examines how the pandemic has boosted commercial incentives and government policies to nudge consumers away from cash.

Cash Usage COVID Future of Cash

John Winchcombe

4 Jan. 2021

4 min read

Coin, Coin Everywhere and not a Cent to Spend

At the ICCOS Americas online conference there was, unusually, a coin panel, ‘Coin, coin everywhere and not a cent to spend.’ The focus was on what had happened to coins in the US in the pandemic, why a Coin Task Force had had to be set up and what the situation is now. The panel consisted of Kathleen Young from the Federal Reserve Cash Services Product Office, Ashley Yayock from Walmart, Thomas Strauser from Loomis, JR Davis from Davis Bankcorp and Linda Sherry from National Priorities Consumer Council.

Coins COVID Events

Latest News

Bank of England Reports Cash Recovery

Resilient Cash in Canada

The Transformation in the Use of Cash and Digital Payments during the COVID-19 Pandemic

Cash and Payments During the Pandemic

BSP wins IACA Award for Cash Supply Innovation

The Power of the Assumptive Close

‘Cash in Times of Turmoil’

Cash in the USA – an Update

DNB Becomes Net Issuer of Banknotes

Impact of the Pandemic on Cash in Italy

Cash Usage in Southern Europe: A Time of Change?

Cash in the Pandemic: European Round Up

Wales Launches Complementary Currency to Boost COVID-Affected Economy

What Happens When COVID Restrictions Lift? Canada’s Story

The Flight to Cash in a Crisis

How did Americans Spend During the Pandemic?

Dirty Money and the Demand for Cash

Pandemic Payment Patterns in the Netherlands

Cash – the ‘Anchor of Stability’ Which Needs Safeguarding

Coin, Coin Everywhere and not a Cent to Spend

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