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Breaking News - Cash Is Still King!

Wednesday, August 18, 2021

August 2021

Cash Still King, Says New Research

A majority of transactions in convenience stores are still made in cash despite the increase in card payments during the pandemic, says new research.

The new research combines PayPoint sales data, looking at cash as an overall percentage of transactions in its network of 28,000 stores, with regional attitudinal data of how many people say they are reliant on cash.

One in five (21%) people across the UK still use an ATM two to three times a week and 64% of British people think more should be done to protect cash, rising to 67% in Scotland.

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ATM Developments in India Webinar

When one of the largest ATM markets in the world meets the most exciting technological advance in our industry since the invention of the ATM just over 50 years ago, one can expect a huge wave of innovation to follow!

Join ATMIA and the Consortium for Next Gen ATMs to explore what this new API App model for ATMs can mean to the future of ATMs in India, and to investments in the new technology platform.

Attendees can join the webinar live or receive an on-demind recording afterwards.

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DNB Reports on the Future of Cash Infrastructure

The Dutch National Bank (DNB) commissioned a study from McKinsey.

In the report, McKinsey identified three key attributes relating to cash:

* It continues of offer the only credible fall-back solution should electronic payments be disrupted.

* Cash is the most accessible form of money and payments

* Cash is public money, available to all.

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Universal Cash Deposits for ATMs

New position paper published

ATMIA recently published a position paper that overviews the benefits of recycling cash at ATMs with universal deposit-taking by:

Increasing the relevance of ATMs in an era of declining bank branches
Keeping the costs of cash competitive
Increasing foot traffic at ATMs for additional transactions

Universal Cash Deposit for ATMs will assist communities and businesses in dealing with the decline in bank branches, while making cash itself more competitive in order to protect on-going access to cash for all demographic groups.

Download Paper

More Cash News

U.S. National Dollar Day: Some Interesting Facts

National Dollar Day is observed every year on August 8, to commemorate the day Congress established the U.S. monetary system in 1786.

On that day, Congress set the value of what various coins would be, and what metallic makeup they would have. The value of a gold piece was set at $10, and the silver at $1. The value of other silver pieces was set at one-tenth of $1, while the value of copper pennies at one-hundredth of $1.

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How micro-ATMs can provide access to basic banking to every rural citizen?

During the pandemic, one thing became clear – rural India was and continues to be a cash-driven economy. But India remains one of the few countries among emerging economies that has a narrow penetration of ATMs.

This is where rural fintech players and banking correspondent agents associated with them, can help bridge the gap by expanding the network of micro-ATMs to the rural customer.

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A LONG TIME COMING: Central Bank says $100 AD Hanna bill was five years in the making

A Bahamian $100 banknote bearing the image of Arthur D Hanna has been in development for five years, according to The Central Bank of The Bahamas, which said it will release the note next month.

The regulator, in a statement offering condolences to Hanna’s family on his recent passing, noted: “Since 2016, the Central Bank has worked alongside the government to design a new $100 banknote bearing an image of Mr Hanna.

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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

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!

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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