CANADA REGIONAL NEWSLETTER

COVID-19 pandemic generates unfounded fears of cash

We continue to see the spread of misinformation in the vacuum created by a lack of definitive scientific knowledge about how this deadly new virus behaves and how it can finally be contained. Some reports and agencies are using pseudo-science to spread a negative message about not using cash during the epidemic. in response, many of the central banks (including Bank of Canada) are issuing statements supporting the continued use of cash.  It is no more “dirty” than most surfaces in our daily lives, from door knobs to touchscreens, from handrails in trains and buses to tables in restaurants and pubs. Any physical object has surfaces which can potentially become contaminated by germs or even a virus. 

Singling out cash makes no sense. Cash is typically not publicly displayed. Cash is usually in a pocket, purse, or cash drawer where it is much less likely to be exposed to respiratory droplets when people sneeze, or cough.

ATMIA Canada reacted quickly to this situation, as we believe it can harm the much-needed economic recovery that will come.  Letters were sent to the Finance and Health ministers of each province and federal government, cautioning them to not drive a loss in confidence in cash or it will slow the recovery.

Hill and Knowlton was instrumental in helping ATMIA Canada turn around these letters and ensure that the future discussion around cash is driving a return to consumer confidence – and merchant’s enthusiastic acceptance of cash post COVID-19.

In addition, ATMIA has created a Coronavirus web page that is open to the general public.  It includes links to numerous statements on the use of cash during the pandemic and infographics that ATM operators can display to promote cash and ATMs.   Links to statements by numerous central banks and government agencies are available as additional references on cash use.  And any news item that includes a reference to coronavirus is added to the news feed.