White Papers
White Papers

Cash is Here to Stay

Author(s): Cashmaster
Published By: Cashmaster
Publication date: July 16, 2020

In the months following the outbreak of the 2019 coronavirus, consumer
behaviour has changed dramatically, including worldwide preferences
for payment methods which have become increasingly electronic. Since
March 2020, the global pandemic that has transformed many aspects of
daily life has seen cash usage drop dramatically - once again broaching
the delicate subject of where cash fits in, within an ever-growing digital
and cashless economy.

There is no doubt that COVID-19 has sent cash usage on a downward
spiral - but this is largely due to misinformation and advice not to use
cash, when the misinformation being spread could be true for other
payment methods as well.

At Cashmaster, we believe that the important issue here is not just around
retaining cash as a payment option for the consumer, but also putting in
place more efficient and hygienic means for businesses to accept and
handle cash.

In this white paper, we discuss the impact COVID-19 has had on cash
as a payment option, and why we are now in danger of sleepwalking into
a cashless society that we just aren’t ready for – necessitating urgent
action.

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