Preference for cash ‘can inhibit digital payment innovations’
Panellists at Central Banking Spring Meetings discuss hurdles and opportunities in sector
Panellists at the Central Banking Spring Meetings held a wide-ranging discussion on payments issues on February 25.
One participant said they wanted households and businesses in their jurisdiction to stop using cash as their primary method of payment. Merchants were primarily driving this continued use of cash because they were often foreign nationals who were unable to get bank accounts. The panellist said their jurisdiction was experimenting with an identity platform for digital payments that
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