December 2021

The Christmas Cash Challenge

We should see mobility return to near normal across Europe. Combine that with a continuing upward trend in cash usage, which is happening despite the unwarranted attacks on cash from its competitors during the crisis, and which have been scientifically refuted, and we are once again facing the same position as we did prior to the pandemic.

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Report Predicts Cash Usage Rebound

New research predicts the global payments sector is set for a rapid return to growth, with cash usage rebounding this year, though likely not to its full pre-pandemic levels.

The 2021 McKinsey Global Payments Report shows the payments sector experienced its first revenue reduction in 11 years during the upheavals of 2020.

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The Great Covid Cash Surge

In the discussion paper, The Great Covid Cash Surge – Digitalisation Hasn’t Dented Cash’s Safe Haven Role, the author Jonathan Ashworth (Fathom Consulting) and Charles Goodhart (London School of Economics) analyse the long-term evolution of cash in circulation in relation to GDP across a broad range of countries to show the remarkable surge in cash demand during the pandemic.

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Cash a Vital Payment Choice in the Digital Economy

This month's WCW Pro-Cash Newsletter featured article is from Ricoh USA.

The Service Advantage team at Ricoh USA explored current currency management trends and future predictions amongst three groups: consumers, retailers, and manufacturers.

The most common reasons consumers pay cash are inexpensive purchase amounts of less than $60, or if they feel there is a security concern regarding the type of non-cash payment method offered. Many practical consumers also say paying with cash helps them stick to their budget. Retailers surveyed reported that 26% to 50% of in-store transactions are made with cash and confirm that most cash payments fall within the $1 to $50 range.

The global Covid-19 pandemic heightened the focus on and advancement of non-cash payment methods. Still, cash remains vital for many transactions. The bottom line: Including cash in the digital economy will continue to enable all consumers to exercise payment choices.

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The Role of Cash in a Digital World

There are many examples of physical products that are recovering lost ground and increasing sales, for example books, vinyl records, board games, even cameras with actual film in them. And many of these are being bought by young people who have grown up in the fully digital world.

We would add to that list cash, which stubbornly remains a large-scale product widely used and held.

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Resolve to Save Money in 2022 Using a Cash-Based Budget

A cash-based budget will help you get out of debt, save for an emergency and cut back on careless spending. There is evidence suggesting the psychology behind using cash for everyday items will help you achieve your goals.

It is easy, but like most resolutions, it will require your diligence and commitment.

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NYC businesses told to pay up after not accepting cash

The city has gone after 23 businesses for violations. The Department of Consumer and Worker Protection received 152 complaints about cashless businesses across the city, the agency said. So far 16 businesses have been found guilty by the city Office of Administrative Trials and Hearings, and fines total $23,850.

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Celebrate Cash News with Withdraw Cash Wednesday

Cash globally remains the most widely used and popular form of payment today. ATMIA’s goal with the Withdraw Cash Wednesday initiative is to communicate as an industry the many benefits of cash, while combating the negative press cash has received over the last few years to ensure consumers have cash as a payment choice for years to come. This monthly newsletter is geared towards sharing positive cash news reaching more than 10,000 ATM industry readers per month.

Don't miss our recent newsletters:

May 2021 - Sponsored by Fiserv
June 2021 - Sponsored by Sargent & Greenleaf
July 2021 - Sponsored by Sargent & Greenleaf
August 2021 - Sponsored by ATMIA
September 2021 - Sponsored by ATMIA
October 2021 - Sponsored by ATMIA
November 2021 - Sponsored by ATMIA

View all past Pro Cash Newsletters here.

Follow Withdraw Cash Wednesday on Twitter and share our posts. You can even share your own personal cash story. Please share Withdraw Cash Wednesday news with customers, friends and family to promote cash usage!

This Month's Newsletter is Sponsored By:

Ricoh is empowering digital workplaces using innovative technologies and services that enable individuals to work smarter from anywhere. With cultivated knowledge and organizational capabilities nurtured over its 85-year history, Ricoh is a leading provider of digital services and information management and print and imaging solutions designed to support digital transformation and optimize business performance.

Ricoh Service Advantage – Retail Technology Service and Support
Ricoh offers retailers a comprehensive suite of professional aftermarket technical services and an extensive support infrastructure. We partner with the best-in-class retail technology manufacturers to provide dedicated service and support for retail automation equipment, including deployments, proactive maintenance, and training.

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If you're interested in sponsoring the WCW Pro-Cash Monthly Newsletter and reaching over 10,000 emails, please contact Claire Feterl by email or at 605.274.0277.

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Cash News Brought To You By Ricoh

December 2021

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