Cash infrastructure as public good – implications for the cash cycle
Eurosystem is seeking to safeguard cash infrastructure even as transaction volumes plunge
The Covid-19 pandemic has resulted in a steep decline in cash transactions usage due to changes in consumer shopping behaviour and retailers encouraging customers to use cashless means of payment. This change was observed in the US in the Federal Reserve’s 2020 Findings from its diary of consumer payment choice,1 as well as in Europe by the European Central Bank’s (ECB) The paradox of banknotes: understanding the demand for cash beyond transactional use.2 It has also been witnessed globally
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